Enhanced deduction for payments to companies for scientific research, subject to registration, approval and prescribed conditions. Amendment to Section 35 adds an enhanced deduction permitting an additional deduction for sums paid to a company for use in scientific research, ... Summary
Enhanced deduction for payments to companies for scientific research, subject to registration, approval and prescribed conditions.
Amendment to Section 35 adds an enhanced deduction permitting an additional deduction for sums paid to a company for use in scientific research, conditional on the company being registered in India, having scientific research and development as its main object, being approved by the prescribed authority in the prescribed manner, and meeting other prescribed conditions; a complementary provision disallows deduction to an approved company for the referenced expenditure incurred after a specified cutoff date. The changes take effect from the Bill's commencement date.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.