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Haffkine Institute donors to get 175% concession in the income tax

Haffkine Institute

Central Government’s decision to invoke Research

Haffkine InstituteMumbai: The central government nodded a 175% concession in the income tax to the donors of the Haffkine research and testing institute to boost the research work.

Dr. Abhay Chaudhari, director, Haffkine institute informed the central government’s decision. At present the institute is researching on the diseases such as Dengue, Rabies, HIV and Malaria along with the medicinal plants.

Many a times the handsome funds could not be available from the central government. Hence keeping the importance of research in mind, the government has decided to give 175% concession in the income tax to the donor and at the same time the government aid would also be made available for research purposes.

Central Industries Research Organization has sanctioned the private grants to the institute. Thus the roadway for private aid has been cleared for Haffkine institute.

The government has decided to give 175% concession in the income tax for the funds donated by the donors. If a donor donates Rs 1 lakh to the institute, he/she would receive the concession of Rs 1.75 lakh in the income tax.

At present very few government institutes were allowed to have this privilege. Dr. Chaudhari further said that the maximum amount was donated to the institute; it would boost the research work.

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