The SKAN Research Trust (SKAN) has been granted two significant accolades from the Indian government. The first is its appointment as a Research Association for Scientific Research under Section 35(1) of the Income Tax Act, 1961. The second acknowledgment is its designation as a Scientific and Industrial Research Organization (SIRO).
These acknowledgments highlight SKAN’s pioneering medical research initiatives, philanthropic goals, and robust governance structure. This affirmation comes from a statement issued by SKAN, which is recognized as India’s most rapidly advancing medical research institution.
As per the Gazette notification dated November 25, 2024, the Government of India’s Ministry of Finance approved SKAN for a five-year term as a ‘Research Association for Scientific Research’ aligned with Section 35(1)(ii) of the Income Tax Act, 1961. This endorsement followed a year of thorough evaluation by the Central Board of Direct Taxes, covering various facets of SKAN, from its scientific achievements to a profound analysis of its operational and research facilities. With this approval, SKAN is entitled to tax advantages for scientific research, anticipated to enhance the inflow of donations and grants for its research endeavors.
Moreover, the Department of Scientific and Industrial Research in the Indian government has classified SKAN as a Scientific and Industrial Research Organization (SIRO). This recognition reflects the numerous patents and scholarly articles SKAN scientists have produced, encompassing areas such as AI applications in disease management, bioinformatics, and extensive public health community studies.
Obtaining SIRO status will enhance SKAN’s research capabilities, offering customs duty exemptions when procuring research apparatus and supplies.
Ashok Soota, Chairman & Managing Trustee of SKAN, commented, “These commendations have materialized within three years of SKAN’s inception. Such recognition fortifies SKAN’s standing as a distinguished medical research entity and empowers us to plan our future growth with assurance.”
Dr. Yogesh Shouche, the director at SKAN, remarked, “Gaining SIRO status is a critical achievement for SKAN. It allows us to craft substantial research projects and motivates our researchers to devise medium and long-term initiatives.”