TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Income-tax Act Section 35 Amended: 125% Deduction for In-House R&D Expenditure for Manufacturing Companies</h1> Section 35 of the Income-tax Act is amended to include sub-section (2AB), effective April 1, 1998. This provision allows companies involved in manufacturing or production of specified items to claim a deduction of 125% of their expenditure on approved in-house scientific research and development, excluding land or building costs. To qualify, companies must enter into an agreement with the prescribed authority for cooperation and audit of the research facility's accounts. The prescribed authority must report to the Director-General regarding the facility's approval in a specified form and timeframe.
TaxTMI 
