Not many domestic and foreign companies know that the Government of India has revised its weighted tax deductions for in-house R&D centers to 200% in the latest Union Budget of 2010. This is more than compared to benefits provided in countries like Singapore, Hungary etc. Companies which are engaged in research only at present but have plans to start manufacturing at a later date are also eligible for the recognition from DSIR Through this service, TT Consultants will assist domestic and foreign companies in setting up R&D center and Intellectual Property units to undertake the procedure of the entire certification and tax deduction claims related activities of firm’s R&D center. The company also takes the responsibility of performing complex task of mapping incentives which will be handled by experts. TT Consultants will helpin the requisite documentation work and get them filed with the concerned authorities within due dates.
This new dimensional service is important and motivating as it will help:
- Investment in R&D helps the Indian economy in progressing through reduced costs, improved products and new technologies.
- Companies which invest in R&D are at par with those who do not.
- Makes the economy more attractive.