SKAN Research Trust secures two govt recognitions

SKAN Research Trust (SKAN), promoted by Indian entrepreneur Ashok Soota, announced that it is accorded two significant recognitions from the Government of India – Research Association for Scientific Research under Section 35(1)(ii) of the Income-tax Act, 1961 and Scientific and Industrial Research Organization (SIRO). 

In a Gazette notification dated November 25, 2024, the Ministry of Finance, Government of India, approved SKAN for five years under the category of ‘Research Association for Scientific Research’ for purposes of section 35(1)(ii) of the Income-tax Act, 1961. The approval came after a year of rigorous vetting by the Central Board of Direct Taxes on all aspects of SKAN, from the quality of its scientific output to a detailed scrutiny of its operations and research laboratories.  The approval will enable SKAN to avail of tax benefits for scientific research activities, and it is expected to increase donations and grants to fund SKAN’s research.

Additionally, the Department of Scientific and Industrial Research, Government of India, recognised SKAN as a Scientific and Industrial Research Organization (SIRO). The SIRO recognition is an acknowledgement of the multiple patents and research papers published by SKAN scientists, which range from the use of AI in disease management and bioinformatics to large community studies that aid public health.

The SIRO designation will boost SKAN’s research, as it receives customs duty exemptions on the purchase of research equipment and consumables.

Ashok Soota, the Chairman & Managing Trustee of SKAN, said, “These various approvals have come in a short span of three years since SKAN commenced operations. The recognition will establish SKAN’s reputation as a prestigious medical research institution and enable us to plan our growth with confidence.”

Dr Yogesh Shouche, Director, SKAN, further stated, “The SIRO recognition is an important milestone for SKAN. This will enable SKAN to develop major research programs and encourage our researchers to plan for mid and long-term projects.”