DSIR / In-house R&D Centre Recognition
- Eligibility Check & Documentation: Assess R&D readiness and compile all required DSIR documents.
- Application Filing: Prepare and submit a compliant DSIR application with complete technical and financial details.
- Interview Support: Guide and prepare your team for the DSIR interview, handle coordination, resolve any queries raised by DSIR team and ensure successful recognition,
Funding & Grant Assistance
- Scheme Identification: Identify suitable government funding and grant schemes for R&D projects.
- Proposal Preparation: Develop detailed project proposals and financial plans.
- Application & Follow-up: Submit applications and coordinate with authorities respond to any quires till the disposal of the application.
R&D Extraction
- Asset Evaluation: Assess existing R&D assets as per DSIR norms.
- Dedicated R&D Extraction: Identify and earmark specific assets, equipment, and spaces exclusively for R&D activities to meet DSIR requirements.
- Segregation & Mapping: Categories assets under R&D and non-R&D heads.
Post-Recognition Training to Maximize the Benefits of DSIR Recognition
- Awareness Session: Educate teams on DSIR benefits and incentives.
- Handholding: Explain procedures for tax exemptions, duty waivers, and funding support.
- Documentation Practices: Train staff on maintaining records required to avail DSIR benefits.
R&D Subsidy
- Scheme Identification: Identify central and state-level R&D subsidy schemes like Capital Subsidy where DSIR recognition is mandatory (e.g., Haryana ,50% Capital Subsidy on project cost of 5 crores).
- Application Preparation: Prepare DPRs and documentation as per scheme and DSIR compliance norms.
- Submission & Coordination: File applications and coordinate with authorities for approval and subsidy release.
Avail 100% Income Tax Benefits
Post Recognition: Upon receiving recognition, you may apply for approval under Form 3CM in accordance with Section 35(1) of the Income Tax Act to avail a 100% deduction. Please note that obtaining this approval is optional:
- Eligibility Verification: Ensure DSIR recognition and project qualification for Section 35(2AB) benefits.
- Form Preparation: Compile project and expenditure details for accurate filing.
- Submission & Certification: File with DSIR to enable approval for R&D tax benefits.