Prescribed authority and process of approval for expenditure on scientific research under section 45(1)(a)(ii) and (2)

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....prescribed authority shall be Principal Chief Commissioner of Income tax (Exemptions) in concurrence with the Secretary, Department of Scientific and Industrial Research, Government of India. (2) For the purposes of section 45(2),-- (a) the prescribed authority shall be Secretary, Department of Scientific and Industrial Research, Government of India; (b) no company shall be en....

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....ted, a reasonable opportunity of being heard shall be granted to the company; and (iii) furnish a copy of such order to the Chief Commissioner of Income-tax having jurisdiction over such company; (e) approval of expenditure incurred on in-house research and development facility by a company shall be subject to the following conditions,:- (i) the facility should not relat....

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....twenty days,- (A) of the grant of the approval, in a case referred to in sub-clause (ii)(A); (B) of the submission of the audit report, in a case referred to in sub-clause (ii)(B); (iv) the company shall maintain separate books of account for each approved facility which shall be audited annually; (v) a report of audit in Form No. 13 shall be furnished electroni....