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of <h1>New Policy for In-House R&D Centers: Tax Deductions and DSIR Recognition Details Under Section 35(2AB) of IT Act 1961 &D</h1> The policy outlines the approval process for in-house R&D centers under Section 35(2AB) of the IT Act, 1961. Approval is granted to centers with valid DSIR recognition from April 1 of the application year. For non-recognized centers, approval starts from the recognition date. Companies with DSIR-recognized centers can claim tax deductions on R&D expenditures if they file Form 3CK timely. For firms investing over Rs. one crore in R&D, excluding land/building costs, approval is contingent on fulfilling conditions and recognition by DSIR. Companies must detail capital investments when applying for approval to claim deductions.
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