In-house R&D approval: guidance on recognition timing, retrospective capital expenditure claims and Form 3CK filing requirements. Approval for in-house R&D centres is co-terminus with formal recognition and may be effective from the year of Form 3CK filing or from the date of recognition; cooperative arrangements with separate R&D accounts can secure approval for newly established centres from the recognition year provided Form 3CK is filed before year-end. Capital expenditure incurred in the preceding financial year may be admitted for weighted deduction where the expenditure is claimed in the income-tax return, the centre meets approval conditions, and the applicant states the claim and provides a complete breakup of qualifying capital equipment investments excluding land and building with the Form 3CK submission.
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Provisions expressly mentioned in the judgment/order text.
In-house R&D approval: guidance on recognition timing, retrospective capital expenditure claims and Form 3CK filing requirements.
Approval for in-house R&D centres is co-terminus with formal recognition and may be effective from the year of Form 3CK filing or from the date of recognition; cooperative arrangements with separate R&D accounts can secure approval for newly established centres from the recognition year provided Form 3CK is filed before year-end. Capital expenditure incurred in the preceding financial year may be admitted for weighted deduction where the expenditure is claimed in the income-tax return, the centre meets approval conditions, and the applicant states the claim and provides a complete breakup of qualifying capital equipment investments excluding land and building with the Form 3CK submission.
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