« Top Headlines » Open DEMAT Account in 24 hrs  How to Change Current Period in Tally Prime Step-by-Step Guide for Users  Global Payroll Management with Tally Prime: How International Businesses Use It Beyond India  How to Manage B2B HSN Codes in Tally Prime: A Complete Guide for Businesses  How to Check Business Revenue in Tally Prime: A Complete Step-by-Step Guide  MSME Payment Rule in Tally Prime: Understanding the Law and Its Impact on Businesses in 2025 The MSME (Micro, Small and Medium Enterprises) Payment Rule is a legal framework introduced under th  Multipurpose Empanelment Form (MEF) 2025 26 Meaning, Purpose, and How to Manage It in Tally Prime  GST Appellate Tribunal (GSTAT) Structure, Powers, and Its Relevance in Tally Prime Implementation  How Tally Prime Supports the Real Estate & Construction Industry in India  Comparison Between Tally Prime 6.1 and Tally Prime 6.2  How Tally Prime Renewal Helps Save My Data  Where to Buy Tally Prime 7.0 at the Best Rates Possible «  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.