Glossary

Department of Scientific and Industrial Research (DSIR)

• A part of the Ministry of Science and Technology. DSIR promotes R&D by the industries, support industrial units to develop globally competitive technologies.

R&D

• Activities undertaken by the companies work directed towards the innovation, introduction, and improvement of products and processes.

Recognition

• Process of registering a functional inhouse R&D unit of companies with DSIR

DSIR Approval

• Process of claiming certain tax benefits on R&D expenditure u/s 35 (2AB) under Income Tax of India.

FORM 3CK

• Application form for entering into an agreement with the DSIR for cooperation in in-house R&D facility and for audit of the accounts maintained for that facility.

FORM 3CM

• Order of approval of in-house Research and Development facility under section 35(2AB) of the Income -tax Act, 1961.

FORM 3CL

• FORM 3CL is needed to be filed to DSIR and a FORM 3CLA (to be filed by the auditor) to Director General of Income Tax.

Quality Control (QC)

• A process by which entities review the quality of all factors involved in production.

In-house R&D

• refers to conducting research and development activity or operation within the company premises in a segregated area.

R&D Layout

• A R&D layout is the physical plan of the R&D facility considering available space, final product, safety of users and facility and convenience of operations.

Capex

• Capital expenditure is the money spent on buying and maintenance of its fixed assets, such as land, buildings, vehicles or equipments.

Opex

• An operating expenditure is an ongoing cost for running a product, business, or system.