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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>In-house R&D centers can seek approval by meeting criteria like DSIR recognition and maintaining audited, separate accounts.</h1> Companies with in-house R&D centers can apply for approval if they meet specific criteria. These include having well-defined R&D programs with proper documentation, valid recognition by DSIR, and engagement in biotechnology or manufacturing not listed in the Eleventh Schedule. They must maintain separate accounts for R&D expenditures, audited by statutory auditors. The R&D center should be in a separate area with dedicated staff, focusing solely on research and development for products not listed in the Eleventh Schedule of the Income Tax Act.
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