Prescribed authority, procedure, form, manner and conditions for approval by a company for deduction for expenditure on scientific research under section 45(3)(b)

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.... in Form No. 17 to the Commissioner of Income-tax having jurisdiction over the applicant, at any time during the financial year immediately preceding the tax year from which the approval is sought. (b) where approval is sought- (i) from the tax year 2026-2027; (ii) from the tax year in which the applicant is incorporated, application for approval may be made at any time during the said tax year. (c) The person who is authorised to verify the return of income under section 265, as applicable to the applicant shall verify Form No. 17. (d) The applicant shall send a copy of the application to the prescribed authority, accompanied by the acknowledgement receipt as evidence of having furnishe....

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....f the application, before the expiry of the period of three months from the end of the quarter in which the application was received in his office. (j) The Chief Commissioner of Income-tax may, before granting approval under section 45(3)(b), call for such documents or information from the applicant as he considers necessary and may get any inquiry made for verification of the genuineness of the activity of the applicant. (k) The Chief Commissioner of Income-tax may, under section 45(3)(b), pass an order granting approval to the company, or for reasons to be recorded in writing, reject the application. (l) The Chief Commissioner of Income-tax, as referred in sub-rule (1), may withdraw the approval granted under se....

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....ived by it for scientific research, reflect therein the amount used for carrying on research, get such books of account audited by an accountant as defined under section 515(3)(b), and furnish the report of such audit duly signed and verified by such accountant to the Commissioner of Income-tax having jurisdiction over the case, by the due date of furnishing the return of income under section 263(1)(c). (d) the company shall maintain a separate statement of donations received and the amount used for research and a copy of such statement duly certified by the auditor shall accompany the report of audit referred to in clause (c); (e) subsequent to approval, the company shall, every year, by the due date of furnishing the ret....