https://www.taxtmi.com/acts?id=44593 Approval under Section 35(2AB) for in house R&D centres is conditioned on statutory permits, DSIR recognition for each centre, a cooperation agreement with the Prescribed Authority, maintenance of separate books and annual statutory audit for each approved centre, and submission of audited accounts with prescribed information. Only expenditures directly attributable to approved R&D qualify for the weighted tax deduction; many general, non R&D, intangible capitalized costs and certain manpower categories are excluded. Grants and sales realisations must be credited and offset against claimed R&D deductions. en-us Tue, 08 Oct 2024 15:00:03 +0530 Tue, 08 Oct 2024 15:00:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=44593 Approval under Section 35(2AB) for in house R&D centres is conditioned on statutory permits, DSIR recognition for each centre, a cooperation agreement with the Prescribed Authority, maintenance of separate books and annual statutory audit for each approved centre, and submission of audited accounts with prescribed information. Only expenditures directly attributable to approved R&D qualify for the weighted tax deduction; many general, non R&D, intangible capitalized costs and certain manpower categories are excluded. Grants and sales realisations must be credited and offset against claimed R&D deductions. Act-Rules Direct Taxes Tue, 08 Oct 2024 15:00:03 +0530 https://www.taxtmi.com/acts?id=44593