Income-tax (Fourteenth Amendment) Rules, 2022

The Central Board of Direct Taxes vide notification dated 9th May, 2022 has issued the Income-tax (Fourteenth Amendment) Rules, 2022. The amendment has revised FORM No. 3CF submitted for application for tax deduction for expenditure on scientific research. The application shall now contain details of:

1. Details of laboratory/research facility/ university/college/other institution being managed, controlled, administered, owned by the applicant
2. Details of research facilities/ assets owned by Research Association
3. Details of patents and products developed and improved by the applicant
4. Ownership of applicant entity
5. Income received in past 3 years.