CBDT Grants Tax Exemptions to Medical and Research Foundations
The Central Board of Direct Taxes (CBDT) has issued notifications granting specific income tax exemptions to the Mazumdar Shaw Medical Foundation and the Institute of Advanced Medical Research Innovations Forum.
Key Details of the ExemptionTax-Exempt Status: The income of both entities is formally declared to be exempt from income tax under relevant sections of the Income Tax Act, 1961 (typically Section 12A/10).
- Purpose of Exemption: This relief is provided to institutions engaged in charitable activities, particularly those focused on medical research, education, and public health. The exemptions encourage these foundations to utilize all their income toward fulfilling their core non-profit objectives.
- Encouraging Research: Granting tax-exempt status facilitates greater investment in advanced medical research and innovation, which benefits the public healthcare sector.
Impact
The decision provides significant financial relief, ensuring that the revenue generated by these foundations can be reinvested entirely into their medical and philanthropic mandates without being reduced by income tax liabilities.
Source :- CBDT-notification-no-02-03-2025