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15 Income-tax (Eleventh Amendment) Rules,
2008 — Notification No. 107/2008, dated 11-12-2008.
In the last budget, S. 35(1)(iia) had been newly introduced
to provide weighted deduction of one and one-fourth times for expenses for
outsourcing research and development to an eligible approved scientific research
company. This deduction is only available to the company outsourcing such R&D
activities and not to the company who actually undertakes these activities. A
new Rule 5F and Form No. 3CF-III have been inserted, which prescribe the
authority, guidelines, form, manner and conditions for approval u/s.35(1)(iia)
of the Act.
