Weighted tax deduction for in house R&D subject to DSIR approval and specified approval and reporting requirements. Guidelines explain that a company may claim a weighted tax deduction for qualifying scientific research expenditure under Section 35(2AB) only if its in ... Summary
Weighted tax deduction for in house R&D subject to DSIR approval and specified approval and reporting requirements.
Guidelines explain that a company may claim a weighted tax deduction for qualifying scientific research expenditure under Section 35(2AB) only if its in house R&D centre is recognised by the Prescribed Authority; the Secretary, DSIR is designated as that authority. Recognition by DSIR is a precondition for the deduction, and companies must follow prescribed approval and reporting procedures, including filing in Form 3CM for recognition and Form 3CL for reporting, with annexures reproducing the statutory provision and the notification.
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