On 29 September 2026, the CBDT issued Notification No. 129/2026-CBDT (SO 5332(E)) granting exemption under Section 45(3)(a)(i) read with Section 45(4)(b) of the Income Tax Act, 2025 to the UPASI Tea Research Foundation (UPASI TRF), Tamil Nadu. This notification recognizes the foundation’s scientific research activities in tea cultivation and processing as qualifying for tax exemption. The approval enables the foundation to deploy its income fully towards research, development, and extension services for the tea industry. Compliance with Rule 35 and annual filing requirements remains mandatory.
Key Takeaways
- Research-Focused Exemption: UPASI TRF benefits from tax exemption aimed at promoting agricultural research critical to the tea sector.
- Regulatory Compliance: The foundation must maintain separate books, get accounts audited, and file returns to retain exemption.
- Sectoral Impact: The exemption underscores government support for commodity-specific research institutions.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement