Major concessions for R&D in Scientific and Social Sectors

The Union Budget 2010-11 presented by the Finance Minister Shri Pranab Mukherjee in the Lok Sabha today, provides boost to the research and development (R&D) activity across all sector of economy. Weighted deduction on expenditure incurred on in-house R&D has been enhanced from 150% to 200%. Weighted deduction on payments made to National Laboratories, Research Associations, Colleges, Universities and other institutions for Scientific Research has been enhanced from 125% to 175%.

Payment made to an approved association engaged in research in Social Sciences or Statistical Research will be allowed as a weighted deduction of 125%. The income of such approved research association shall be exempted from tax.

Source : Equity Bulls

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