(8)The amount of deduction in the case of any company carrying on scientific research and development shall be hundred per cent. of the profits and gains of such business for a period of five assessment years beginning from the initial assessment year if such company-(a)is registered in India;(b)has the main object of scientific and industrial research and development;(c)is for the time being approved by the prescribed authority at any time before the 1st day of April, 1999.[(8-A) The amount of deduction in the case of any company carrying on scientific research and development shall be hundred per cent. of the profits and gains of such business for a period of ten consecutive assessment years, beginning from the initial assessment year, if such company-(i)is registered in India;(ii)has its main object the scientific and industrial research and development;(iii)is for the time being approved by the prescribed authority at any time after the 31st day of March, 2000 but before the ][1st day of April, 2007] [ Substituted by Act 18 of 2005, Section 27, for " 1st day of April, 2005" (w.e.f. 1.4.2006).];(iv)[ fulfills such other conditions as may be prescribed.] [ Inserted by Act 10 of 2000, Section 39 (w.e.f. 1.4.2001).]
