Tax Deductions for Donations Made to IIT Bombay
- Document
- Notification Notification No. 42/2026
- Effective
- Assessment years 2026-27 to 2030-31
This page was written by Patron Accounting’s AI from the official release and reviewed before publishing. It explains the document in plain language. It is not the document itself. Where this page and the original differ, the original governs.
In short
Notification 42/2026 confirms that donations to IIT Bombay qualify for tax deductions under the Income-tax Act. This document ensures that your charitable contributions to this institution are officially recognized for tax savings.
What has changed
How it worked before
Previously, there was no specific notification confirming this status for the upcoming assessment years. Donors were uncertain if their contributions would qualify for the specific research-based tax deductions provided under the law.
What has changed
The government has officially approved IIT Bombay for scientific research tax benefits from the 2026-27 to 2030-31 assessment years, which are the years used to calculate your annual tax. This means you can now claim a deduction for donations made to their research programs during this period.
Who this affects
This affects you if you are an individual or a business owner who makes financial donations to IIT Bombay. It specifically applies to those looking to lower their taxable income by claiming a deduction for these research-related gifts.
What you should do
You do not need to file any special forms yourself to get the deduction. Simply ensure that you receive a Form 10BE certificate from IIT Bombay, which serves as proof of your donation for your tax records.
The original document
| Issued by | IT |
|---|---|
| Document | Notification Notification No. 42/2026 |
| Full title | Notification No. 42/2026 |
| Effective | Assessment years 2026-27 to 2030-31 |
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