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Corporate Tax R_D Tax
CORPORATE TAX
(R&D TAX)
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In order to encourage Investment in Research
and Development (R&D) the government of
India has provided motivation in the form of
various tax incentives. The incentives are
basically available in respect of revenue and
capital expenditures which are incurred by the
entities in carrying out R&D activities related to
their businesses also including contributions to
various institutions or organizations for carrying
out scientific research.
Research and development (R&D) tax credits
are valuable government relief that rewards the
UK Companies for investing in innovations.
Corporation Tax (R&D) will help the company to
claim tax relief only if such company is liable to
Corporation Tax
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R&D Tax Relief Scheme:
The benefit of claiming
relief is available only to
companies which are
registered under Small or
medium sized enterprise
scheme or the large
company scheme.
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Eligibility for claiming Relief
• The company claiming the relief should
understand that R&D projects seeks to
achievean advance in overall knowledge
or capability in the field of science or
technology.
• The project must be related to the
company’s existing business or if it is a
startup which will be based on the results
of R&D.
• If the company is claiming tax relief under
SME scheme it must own any intellectual
property that might arise from the project.
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R&D Cost that qualify for relief
• If the company and project meets the necessary conditions that it is
eligible to claim tax relief on revenue expenditure .i.e. day to day business
expenditures excluding capital expenditures on assets such as
• Employees Cost related to the employees directly involved in carrying out
R&D excluding the consultants, agency workers or directors who have
entered in the contract of employment.
• Staff providers to whom the company is paying who are actively engaged
in carrying out R&D
• Material either consumable or transformable material which are used in
carrying our R&D activity
• Clinical trial cost
• Utilities such as power, water, fuel used in the R&D. These does not
include telecommunication cost and data cost
• Computer software
• Sub contracted R&D Expenditure
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How and when to claim R&D Relief
1) When to claim:- The company can claim R&D Tax relief in your CT Return
or amended return. The time limit for the same is 2 years after the end of
the relevant CT accounting period.
2) How to claim:- The company shall claim for R&D tax relief by placing an
X in either box 99 (SME) or box 100 (large companies) of your CT return,
and in both cases, place the enhanced expenditure in box 101 – that is, the
actual amount spent multiplied by 230% or 130% as appropriate.
If your company is a SME and you want to convert some or all of the tax
relief into payable tax credits you’ll also need to put the amount payable to
the company in box 87, box 89 and box 143 – and put an X in the
‘repayment due for this return period.
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Record Keeping
Requirements
There is no specific record
keeping requirement for R&D
tax relief claims. But the
general requirement of CT is
to keep sufficient records to
support the entries on your
CT return still applies
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Key Strengths
• We have dedicated R&D team
with extensive experience in
providing services to clients
engaged in diverse industries and
sectors
• Our team of professional provides
advice in respect of matters
relating to tax and regulatory
implications and processing of
potential R&D tax benefits
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Key Services provided by us
1. Assess liability for claiming R&D incentives
2. Assisting in implementing systems and processes for capturing
the necessary information relating to R&D incentives
3. Assistance in preparing and processing application forms
relevant for recognition and approval of R&D facility
4. Identifying the expenditure eligible for R&D incentive claims
5. Preparation, review and facilitating R&D tax incentive claims
6. Also support services for realization of R&D incentive claims
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The tax incentives are designed to attract investors to
the Indian manufacturing sector while increasing the job
market and improving the Indian economy.
Activity Incentives: These incentives are for any
manufacturers and producers fulfilling certain conditions.
They provide a 150% deduction on on-premises research
and development, as well as funding the importation of
any materials needed for these activities. Eligible
manufacturers and producers also qualify for an
exemption of customs duty.
Exportation Incentives: These incentives tend to offer
rebates or waivers from charges and fees related to
exportation and purchase of goods within a Special
Economic Zone (SEZ). This includes exemptions of
customs duty, VAT, excise duties, and Service Taxes.
These incentives are incredibly attractive for exporters,
as they can cut back significantly on their operation,
transport, and sale costs and fees.
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Industry Tax Incentives: These tax incentives fall within specific
industries that have unique or specific needs and requirements. The
incentives supply tax deductions or direct reimbursement of many
industry-incurred expenses, such as material storage and other
necessities.
Investment-based Incentives: In order to attract investment in
specified sectors and to boost the exports, these incentives are
offered on the investment made by the industries.
State-Based Incentives: These incentives can vary significantly from
state to state. The states in north eastern India have a set of tax
incentives for manufacturers. These vary based on the available
industries, region size, investment potential, and the products
produced in the region, among other considerations.
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R&D IN INDIA
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The Government of India is all set to table its Union Budget on 1st Feb,
2020 in the Parliament. It is anticipated that, a bold step will be taken
towards reviving the economy through this budget like increase in 80-C,
Cap on deductions & rise in tax exemption limit for the citizens. As we
are here to discuss our expectations from the government to promote
R&D in India, we will also analyze what has been done earlier and what
should be done now to promote R&D in India.
As we all are cognizant to the fact that Income Tax benefits u/s 35 (2AB)
relating to DSIR ratified companies receiving Form 3CM with tax
deduction of 150% is slated to be reduced to 100% by end of FY 2019-20
i.e. 31st March 2020 which has got the entire manufacturing and
research based companies shocked at this move.
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We speak about Make in India but it must be noted that there is no
financial motivation to Design & Development in India. SCPL has been
trying to get the top executives of the Industry & Research field
including global partners to reach out to the Government in order to
make them understand the absolute loss of growth, loss of highly
skilled professionals and innovation in this country if we decide to go
down this path.
The Founder of SCPL, the parent company of DSIR.in met the Principal
Scientific Advisor (PSA), Prof. Vijay Raghavan to Govt. of India in last
week of August 2019 and the entire view of the industry and global
practices about the R&D incentives was submitted to his office.
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THANK YOU
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