24 July 2024

The Central Government has exempted the Society for Applied Microwave Electronics Engineering & Research (SAMEER), Mumbai, from income tax under Section 10(46) of the Income-tax Act, 1961. This exemption applies to grants from the Ministry of Electronics and Information Technology, fees for services, design and development charges, royalty and technology transfer revenue, miscellaneous income, and interest on bank deposits. To qualify for this exemption, SAMEER must avoid commercial activities, maintain the same income sources and activities, and file its tax returns as required. The exemption is applicable for the assessment years 2021-2022 through 2025-2026.