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of <h1>R&D Centers: Follow Income Tax Act Section 35(2AB) for Deduction Claims Using Forms 3CK, 3CM, and 3CL.</h1> The statutory provisions outline the procedure for applying for approval of in-house R&D centers under the Income Tax Act, specifically using Form 3CM and submitting reports in Form 3CL. Companies must submit an online application in Form 3CK, followed by a signed printout to the Department of Scientific & Industrial Research (DSIR). Required documents include DSIR recognition letters, financial statements, and R&D objectives. The guidelines detail the process for initial approval, renewal, and annual reporting. Section 35(2AB) of the Income Tax Act allows deductions for R&D expenditures, with specific amendments affecting deduction rates and conditions. Compliance with DSIR guidelines and proper documentation is essential for claiming deductions.
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