Professional Documents
Culture Documents
STAGE- I
Application to DSIR
The company has to make an application to Department of Scientific and Industrial Research for grant of recognition and registration to its in-house R&D units. Following Criteria will be adopted by DSIR for Recognition of R&D unit 1. The Company must spell out a long term R&D policy which should be displayed prominently in the inhouse R&D unit. 2. R&D activities should be separate from routine activities of the firm, such as, production and quality control. 3. The units should have qualified staff exclusively engaged in R&D and should be headed by a full-time qualified & experienced R&D person
Other Benefits.
Executive summary.
Company has to apply to DSIR for grant of recognition and registration of in-house R&D facility.
Once a company is granted recognition by DSIR, it has to apply to Income Tax authorities for approval to get deduction u/s 35 (1) of Income tax Act, 1961. Excise duty exemption with certain conditions. Financial support by government.
Note :Depreciation cannot be claimed on the capital Expenditure which was allowed as deduction u/s 35(1)(iv). Weighted deduction @ 200% is not available in respect of expenditure incurred after 31-3-2012.