In budget 2008-09 Finance Minister has announced Weighted deduction benefit of 150% on R&D expenditure
Can anybody explain what is this weighted deduction?
If this is not feasible, income to the tune of Rs 2 lakh if reinvested, should be exempted from tax in recognition of its potential in employment generation next only to agriculture and as an encouragement to enable the sector qualitatively improve in facing international competition, according to Mr S. Rajagopal, President, Federation of Associations of Small Industries of India (FASII).
Speaking to Business Line here, he said the post-reform period has experienced growth, marking significant gains in automobiles, pharmaceuticals, food processing, general engineering, chemical and white goods etc. However, the growth has been around metros only and has not percolated to the interior.
There is a wide gap, he observed, in the levels of awareness among entrepreneurs on the need to raise the quality of products.
With international competition in pla ...more