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of <h1>Finance Bill 2010 amends Income-tax Act section 10, expanding tax exemptions for approved research associations from 2011.</h1> Clause 5 of the Finance Bill, 2010 amends section 10 of the Income-tax Act, affecting incomes not included in total income. The amendment changes the term 'scientific research association' to 'research association' in clause (21) and extends the tax exemption to associations conducting research in social science or statistical research, provided they are approved under clause (iii) of section 35(1). These changes will be effective from April 1, 2011, applicable for the assessment year 2011-2012 and beyond, allowing such associations' income to be excluded from total income calculations.
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