The Government of India, through the Ministry of Finance (Department of Revenue), has issued Notification No. 24/2026 dated 20th March, 2026, granting approval to the Tea Research Association, Kolkata, West Bengal, as a ‘Research Association’ for the purpose of “Scientific Research” under clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961, read with Rules 5C and 5D of the Income-tax Rules, 1962. This approval enables the association to receive contributions eligible for tax benefits, thereby promoting scientific research activities in the sector.
The notification provides that the approval shall be applicable for Assessment Years 2027–28 to 2031–32, subject to prescribed conditions. The association is required to comply with Rule 5D of the Income-tax Rules, 1962, maintain proper records, and furnish statements of donations received in Form No. 10BD to the prescribed income-tax authority within the stipulated timeline. It is also mandated to issue certificates to donors in Form No. 10BE, specifying details of donations received. Further, provisions have been made for submission of correction statements, wherever necessary, in accordance with Rule 18AB of the Income-tax Rules, ensuring accuracy and transparency in reporting.
This approval is part of the Government’s continued efforts to encourage scientific research by facilitating recognized research institutions and providing tax incentives to donors, while ensuring compliance through robust reporting and certification mechanisms.
The Notification can be accessed at: https://a2ztaxcorp.net/wp-content/uploads/2026/03/CBDT-Notification-No.-24-2026.pdf
