ARTPARK/I-Hub for Robotics and Autonomous Systems Innovation Foundation has been recognized/approved by various tax and regulatory authorities in India. Details of the recognition and the benefits that accrue there from have been summarized below:
Recognition by the Department of Science and Industrial Research (DSIR) as a Scientific and Industrial Research Organization (SIRO)Read More
The Department of Scientific and Industrial Research (DSIR) is a part of the Ministry of Science and Technology. DSIR is the nodal department for granting recognition to in-house R&D units. This enables ARTPARK to avail certain custom duty exemptions/ benefits on imports. This is a recognition by the nodal Government body of the fact that ARTPARK is at the forefront/boundary of transforming knowledge into reality. It is also a recognition of the hard work and commitment of the staff/ faculty of the organization for their unyielding efforts in pushing the boundaries in the field of innovation & research. The entire team at ARTPARK has been consistently building momentum to deliver cutting-edge research solutions in the realm of Cyber-Physical Systems and Artificial Intelligence.
Eligible to undertake Corporate Social Responsibility (CSR) activitiesRead More
ARTPARK has been registered for undertaking CSR activities vide registration number CSR00017521. Thus, corporates who are required to mandatorily contribute to CSR activities as per section 135 of the Companies Act, 2013, read with the Companies (Corporate Social Responsibility Policy ) Rules, 2014, may contribute to ARTPARK to meet their CSR obligation.
Approval under section 80G of the Income-tax Act, 1961 (Tax law)Read More
ARTPARK has been approved by the Income Tax Authority under section 80G of the tax law. Thus, the contributions to ARTPARK are eligible for 50% tax deduction under Section 80G(2)(a)(iv) of the tax law, subject to an overall limit of 10% of the gross total income of the taxpayer.
Registration as a charitable institution under the tax lawRead More
ARTPARK is registered as a company engaged in ‘charitable activities’ under the tax law. Thus, any grants received by ARTPARK would be exempt from income-tax, subject to meeting certain requirements specified under the tax law."
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