Enhanced research expenditure deduction permitted for approved payments to research institutions, with certification and anti duplication safeguards. An Explanation deems certain pre commencement research expenditure incurred within the three years before business commencement to be expended in the year ... Summary
Enhanced research expenditure deduction permitted for approved payments to research institutions, with certification and anti duplication safeguards.
An Explanation deems certain pre commencement research expenditure incurred within the three years before business commencement to be expended in the year of commencement if certified by the prescribed authority. A new sub section allows an enhanced deduction equal to one and one third times sums paid to eligible research institutions for programmes approved by the prescribed authority, and bars any duplicate deduction under the ordinary research deduction provision for the same sum in the same or any other assessment year.
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