NEW DELHI, 16 January 2020: For the upcoming Union Budget, Federation of Seed Industry of India (FSII) urges the Government of India for restoring the 200% income tax deduction (under the section 35 (2AB) of the Income Tax Act, 1961) for the in-house Research and Development (R&D) expenditure in seed industry.

The income tax deduction for the in-house R&D has been reducing over the last few years. Through an amendment as per Finance Act 2016, the weighted deduction was reduced to 150