SKAN Research Trust Earns Key Government Approvals in India

SKAN Research Trust Receives Significant Government Approvals

SKAN Research Trust has recently achieved two major recognitions that highlight its commitment to advancing medical research. These recognitions are from the Government of India, designating SKAN as a Research Association for Scientific Research and recognizing it as a Scientific and Industrial Research Organization (SIRO). This acknowledgment not only validates SKAN's innovative medical approaches but also reinforces its status as one of the fastest-growing medical research organizations in the region.

Recognition Under Section 35(1) of the Income-tax Act

The Ministry of Finance has officially approved SKAN for a period of five years under the category of 'Research Association for Scientific Research', in accordance with Section 35(1)(ii) of the Income-tax Act. This approval came after an extensive evaluation by the Central Board of Direct Taxes, which scrutinized various aspects of SKAN’s operations, including its scientific outputs, laboratory practices, and innovative research initiatives. The tax benefits associated with this recognition are expected to significantly enhance donations and funding for SKAN's scientific endeavors.

Impact of the Approval on Research Funding

The approval under Section 35(1)(ii) will facilitate increased monetary support, enabling SKAN to elevate its research capabilities. This financial backing will open new avenues for groundbreaking studies, particularly in the areas of artificial intelligence applications in healthcare, bioinformatics, and other crucial health-related projects.

SIRO Designation: A Milestone Achievement

In addition to the Research Association recognition, the Department of Scientific and Industrial Research has acknowledged SKAN as a Scientific and Industrial Research Organization (SIRO). This recognition is a testament to the innovative contributions by SKAN scientists, who have published multiple patents and research papers in a variety of pivotal medical fields. The SIRO status not only boosts SKAN’s credibility but also provides several operational advantages, including customs duty exemptions on research equipment purchases.

Enhancing Research Capabilities

The SIRO designation serves as a significant milestone that will propel SKAN into a new phase of research development. With this recognition, the organization is better positioned to embark on extensive research projects, focusing on long-term solutions for chronic health conditions.

Leadership Insights on Achievements

Ashok Soota, the Chairman & Managing Trustee of SKAN, expressed his enthusiasm regarding these significant recognitions. He noted, "These various approvals have come in a short span 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." His perspective underscores the importance of these recognitions in shaping the future ambitions of SKAN.

Furthermore, Dr. Yogesh Shouche, the Director of SKAN, affirmatively 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." These statements reveal the optimism and forward-thinking approach within the organization.

About SKAN Research Trust

Based in Bengaluru, SKAN Research Trust is a not-for-profit medical research entity that leverages transformational technologies to develop innovative therapies aimed at addressing issues such as aging, cardiovascular diseases, diabetes, and lifestyle-related disorders. The organization taps into a wide range of expertise, including genomics, stem cells, and molecular biology, to create gentler treatment protocols that are more effective and less invasive. Their mission is clear: to "Transform the future of medicine. Impacting millions of lives."

Frequently Asked Questions

What is SKAN Research Trust?

SKAN Research Trust is a not-for-profit organization focused on advancing medical research, particularly in developing therapies for various health issues.

What recognitions has SKAN recently received?

SKAN has gained recognitions as a Research Association for Scientific Research and as a Scientific and Industrial Research Organization (SIRO) by the Government of India.

How does the SIRO designation benefit SKAN?

The SIRO designation provides SKAN with customs duty exemptions on research-related equipment and boosts its credibility in the scientific community.

What are the future plans for SKAN Research Trust?

SKAN plans to embark on extensive research programs that leverage the recent government approvals to develop long-term health solutions.

Who leads SKAN Research Trust?

Mr. Ashok Soota is the Chairman & Managing Trustee, guiding SKAN's vision and strategic initiatives in medical research.

About Investors Hangout

Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/

Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. If any of the material offered here is inaccurate, please contact us for corrections.