Form 3cq

Form 3CQ is an application form that needs to be submitted for approval under sub-section (1) of section 35CCD of the Income-tax Act, 1961. This form is used by entities seeking approval for expenditure on approved scientific research programs to claim deductions on such expenditure.

Any company, firm, association of persons, body of individuals, or cooperative society engaged in business or profession and carrying out scientific research and development activities is required to submit Form 3CQ to obtain approval for claiming deductions on such expenditure.

The applicant is required to submit a detailed programme of the scientific research and development facility along with Form 3CQ. Additionally, a copy of the memorandum and articles of association, partnership deed, or trust deed (as applicable) must be provided with the application.

Form 3CQ needs to be submitted to the Secretary, Department of Scientific and Industrial Research, Ministry of Science and Technology, Government of India. The form can be submitted online or through physical submission at the designated address.

Yes, Form 3CQ must be submitted before the commencement of the scientific research program or at least one month before the due date of furnishing the return of income for the relevant assessment year, whichever is earlier.

The approval granted based on Form 3CQ is generally valid for a period of three years from the date of approval. However, the approval can be withdrawn or modified by the prescribed authority if the specified conditions are not met.

No, an entity cannot claim deductions on expenditure incurred on scientific research and development activities without obtaining prior approval through Form 3CQ. Submission of this form is a mandatory requirement under the Income-tax Act, 1961.

Yes, the detailed programme of the scientific research and development facility must be submitted in a prescribed format, which includes details such as the nature of research, objectives, personnel involved, and estimated expenditure, among others.

Yes, an entity can submit separate Form 3CQ applications for different scientific research and development programs. Each program will be evaluated and approved individually based on the information provided in the respective application.

If the approved scientific research and development program is not carried out as per the submitted plan or if the prescribed conditions are not met, the approval granted through Form 3CQ can be withdrawn or modified by the prescribed authority, and the deductions claimed may be disallowed.