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Patanjali CEO Acharya Balkrishna (TOI File Photo)
DEHRADUN: The Central Board of Direct Taxes (CBDT) has granted a 5-year tax exemption on donations made to yoga guru Ramdev’s Patanjali Research Foundation Trust. According to the notification issued on Monday, businesses or individuals that make donations to the trust in the period between financial year (FY) 2021-22 to 2026-27 can claim tax deduction on their donations.
The Haridwar-based foundation, which was set up in 2017, has been notified as a research association under the IT Act, which means any business donating to the foundation for research will be eligible to claim tax deduction on the donated amount under section 35 of the Income Tax Act.