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of <h1>Income Tax Bill Clause 45: New Deductions for R&D Expenditures, Encourages Business Investment, Supports Collaboration with Research Entities</h1> Clause 45 of the Income Tax Bill, 2025, introduces tax deductions for scientific research expenditures to encourage business investment in R&D. It allows deductions for capital and revenue expenditures, excluding land acquisition costs, and supports pre-commencement expenditures for up to three years. Payments to research entities are deductible, promoting collaboration with research institutions. The clause ensures deductions remain valid even if research entity approvals are later withdrawn. Compared to Section 35 of the Income Tax Act, 1961, Clause 45 offers a streamlined approach without multipliers for deductions and includes detailed provisions for asset transfers during amalgamations. Compliance is crucial for businesses to maximize benefits.
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