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: The Finance Ministry has announced that donations made to the Centrally-sponsored JIPMER here by approved organisations for research projects will be exempted from income tax.
In a press release here today, JIPMER Director S C Parija said donations to the institute would be exempt from income tax as a necessary notification had been issued by the Union Finance Ministry. This would be effective from the assessment year 2016-17.
He said that donations would be used for scientific research activities in the instituteand would be "eligible for 175 per cent tax relief under the Income Tax Act 1961."
The JIPMER Director said this would enable corporate houses to allocate funds under the "corporate social responsibility" (CSR) scheme to the institute for research work.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)