New manufacturing R&D center in Chennai approved for income tax exemption.

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....Central Government approves 'Advanced Manufacturing Technology Development Centre, Chennai' as an 'Other Institution' under 'University, College or Other Institution' category for 'Scientific Research' purposes u/s 35(1)(ii) of Income Tax Act, 1961 read with Rules 5C and 5E of Income Tax Rules, 1962. Notification effective from previous year 2024-25, applicable for assessment years 2025-26 to 2029-30. No adverse impact from retrospective effect.....