Tax Exemption for Research Grants

SRO No. 51-AIN/Income Tax-28/2024
National Board of Revenue, under Section 76(1) of Income Tax Act, 2023, has decided to exempt research grants received by universities, colleges, or research institutes from foreign institutions for research management purposes from the calculation of total income upon obtaining a tax exemption certificate from the National Board of Revenue. The directive is effective immediately and will remain valid until the fiscal year 2026-2027.