Research expenditure reporting expanded to additional senior recipients and requires prescribed account maintenance, audit and reporting conditions. The Bill inserts references to Principal Chief Commissioner or Chief Commissioner as acceptable recipients of prescribed authority reports concerning ... Summary
Research expenditure reporting expanded to additional senior recipients and requires prescribed account maintenance, audit and reporting conditions.
The Bill inserts references to Principal Chief Commissioner or Chief Commissioner as acceptable recipients of prescribed authority reports concerning approval of research and development facilities, and replaces a narrow audit requirement with a broader obligation that companies must enter into an agreement with the prescribed authority and fulfil prescribed conditions regarding maintenance and audit of accounts and furnishing of reports.
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