Scientific research deduction approvals require prescribed authority consent, research agreement, audited accounts, and ongoing reporting compliance. Prescribed authority and approval process are laid down for expenditure on scientific research and in-house research and development facilities. For approval linked to section 45(1)(a)(ii), the prescribed authority is the Principal Chief Commissioner of Income-tax (Exemptions) acting in concurrence with the Secretary, Department of Scientific and Industrial Research. For section 45(2), the prescribed authority is the Secretary, Department of Scientific and Industrial Research, and a company becomes entitled to deduction only if it enters into an agreement for cooperation in research and development and complies with the specified requirements relating to maintenance and audit of books of account and furnishing of reports.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Scientific research deduction approvals require prescribed authority consent, research agreement, audited accounts, and ongoing reporting compliance.
Prescribed authority and approval process are laid down for expenditure on scientific research and in-house research and development facilities. For approval linked to section 45(1)(a)(ii), the prescribed authority is the Principal Chief Commissioner of Income-tax (Exemptions) acting in concurrence with the Secretary, Department of Scientific and Industrial Research. For section 45(2), the prescribed authority is the Secretary, Department of Scientific and Industrial Research, and a company becomes entitled to deduction only if it enters into an agreement for cooperation in research and development and complies with the specified requirements relating to maintenance and audit of books of account and furnishing of reports.
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