Navigation Links
Tax Concession to Pharma Comapnies

India is emerging as one of the most favoured destinations for collaborative R&D, bio-informatics, contract research and manufacturing and clinical research as a result of// growing compliance with internationally harmonized standards such as Good Laboratory Practices, current Good Manufacturing Practices, Good Clinical Practices and patent laws.

As per the current provisions of the Income Tax Act, if a company engaged in the business of bio-technology, drugs and pharmaceuticals incurs any expenditure on scientific research, excluding cost of any land or building on in-house R&D facility, a deduction of a sum equal to 150 per cent of expenditure so incurred is allowed to encourage investment in R&D in pharma sector. Besides this, Income Tax Act also contains the provision of Section 80-IB (8A) under which for any company carrying on Scientific R&D, deduction of 100 per cent of profit and gains of such business for a period of 10 consecutive assessment years, beginning from the initial assessment year is allowed.

This information was given by the Minister of State in the Ministry of Chemicals and Fertilizers Shri B.K. Handique in a written reply to a question in the Lok Sabha today.

Source-PIB
'"/>




Page: 1

Related medicine news :

1. Rail Travel Concession to Disabled Persons
2. Pharmaceutical giant offers AIDS related antifungal drug free to 50 countries
3. Pharmaceutical giant offers AIDS related antifungal drug free to 50 countries
4. Pharma cos must forge Strategic alliances
5. Medicis Pharmaceutical company enters pediatric market
6. Pharma majors gear to supply anti-anthrax drug
7. Pharmacies in for a dose of bitter medicine
8. Andhra Pradesh to set up Pharma City
9. Sun Pharma to launch chiral version of omeprazole soon
10. AAI Pharma Files Lawsuit Against Dr. Reddys Laboratories
11. Pharmacia may take 51.5 percent Abbott stake
Post Your Comments:
*Name:
*Comment:
*Email:


(Date:9/23/2017)... ... ... “You Can't Win Them All”: the story of an entrepreneur and a family man ... the lives of young athletes. “You Can't Win Them All” is the creation ... a small town in Northern Ontario, Canada. He is an entrepreneur who manages ...
(Date:9/22/2017)... ... September 22, 2017 , ... ... and Richard Pedranti Architect (RPA), a full-service architecture firm focusing on ... Solsken Line of Model Homes . Independently, Ecocor and RPA have extensive ...
(Date:9/22/2017)... ... September 22, 2017 , ... Pullano Law Offices, a Chicago personal ... has been selected to serve as President of the North Suburban Bar Association ... and Award Dinner hosted by the NSBA at the North Shore Country Club in ...
(Date:9/22/2017)... , ... September 22, 2017 , ... ... you brush more effectively even on the go. Their electric toothbrushes aggressively attack ... gum inflammation, with UV sanitizing technology. Combining leading edge Enke technology with a ...
(Date:9/22/2017)... Greenwich, Connecticut (PRWEB) , ... September 22, 2017 ... ... to conquering Lyme and other tick-borne diseases through research, education and awareness, today ... , A noted immunologist and microbiologist, Dr. Sellati has more than 20 ...
Breaking Medicine News(10 mins):
(Date:9/18/2017)... Pa. and KALAMAZOO, Mich. , Sept. 18, ... , and OptiMed Specialty Pharmacy of ... to offer a strategic hub service that expedites and ... sought-after personal spirometer, Spiro PD 2.0, and wellness management ... spirometer is a medical device used to measure lung ...
(Date:9/12/2017)... , Sept. 12, 2017   EcoVadis , the leading platform ... published the first annual edition of its Global CSR Risk and Performance ... evaluated by EcoVadis, based on Scorecard Ratings that analyzed nearly 800,000 data ... ... ...
(Date:9/9/2017)... ... ... – Monday, September 18 th .The Brain Tumor Foundation (BTF) begins ... the public.Where:  BTF,s Mobile MRI Unit – a ... Washington, D.C.What:BTF brings its nationwide initiative, the Road to Early Detection Sponsor-A-City ...
Breaking Medicine Technology: