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of <h1>Research Expenses Now Deductible: Tax Act Amendment Boosts Scientific Innovation and Startup Funding Opportunities</h1> The amendment modifies section 35 of the Income-tax Act, 1961, introducing provisions related to scientific research expenditures. It allows deduction of pre-business research expenses incurred within three years before business commencement, with certification by prescribed authority. Additionally, it establishes a deduction of 1.33 times the amount paid to scientific research associations for approved research programs, with restrictions on claiming additional deductions for the same expenditure.
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