« Top Headlines » Open DEMAT Account in 24 hrs  Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)  Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose  Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More  Government proposes to ease tax relief conditions for offshore funds  TallyPrime Connected Banking: Automating Banking and Accounting  ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update  ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide  Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers  Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It  ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes  Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs «  CBEC puts recoverable indirect tax arrears at Rs 4,484 cr... Too preachy for the fin min’s taste... » Tax sops for pharma R&D may be extended September, 05th 2006 In order to promote continuous research and development (R&D) activities in the pharmaceuticals sector, the Ministry of Chemicals and Fertilisers has sought approval from the Finance Ministry for extending the time limit of tax exemptions provided for such activities. "Time limit for tax exemption on research and development oriented companies has been under consideration by the Ministry of Chemicals and Fertilisers. A proposal has been sent to the Revenue Department for the extension and we are hopeful for a favourable move," the secretary in the Department of Chemicals and Petrochemicals, Ms Satwant Reddy told reporters here. She said the time limit on tax incentives provided to R&D oriented companies was supposed to expire on March 31, 2007 and the Ministry wants to extend it by another 10 years up to 2017, she said. Pharmaceutical companies that fall under the Government's gold standard criteria are entitled to get the tax benefit under the existing R&D policy. Speaking at a symposium on Dynamics of Innovation Leadership in Knowledge Based Industries, she said that the challenges for development of R& D activities are to improve physical infrastructure, HRD and systematic changes in the regulatory and IPR regime.