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of <h1>Section 80-IA Amended: Tax Benefits for R&D Activities; 100% Profit Eligibility; New Sub-section 4B for Compliance</h1> Section 80-IA of the Income-tax Act is amended to include scientific and industrial research and development as qualifying activities for tax benefits, effective April 1, 1997. A new sub-section 4B specifies that eligible companies must be registered in India, primarily focused on research and development, and approved by the prescribed authority before April 1, 1998. Amendments also provide that 100% of profits from such activities are eligible for tax benefits. Additional clauses define infrastructure facilities and specify assessment years relevant to the approval of research and development companies by the prescribed authority.
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