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Income Tax Exemption under Section 10(21) of Income Tax Act, 1961


Eligible Assessee

Any Research Association




Nature of Income

Any income


Amount Exempt

Entire amount


Conditions laid down for Tax Exemption

  1. The research Association should be approved for the purpose of section 35(1) clause (ii) and clause (iii)

  2. It applies or accumulates the income wholly and exclusively for its stated purpose

  3. Provisions of sections 11(2) and 11(3) shall apply with such modification as specified

  4. If the Central Government is satisfied that various conditions laid down is not satisfied it may withdraw the exemption after giving opportunity of being heard to such association.

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