Budget 2013: OPPI demands equal weighted deduction on sponsored scientific research

NEW DELHI: In its demands for Budget 2013, Organisation of Pharmaceutical Producers of India (OPPI) has asked the Finance Minister P Chidambaram to bring on equal footing the weighted deduction on sponsored scientific research.


According to OPPI, the weighted deduction on sponsored scientific research undertaken through an approved National Laboratory, University, Indian Institute of Technology and other specified institutions was increased from 125% to 175% by the Finance Act 2010. However, weighted deduction for similar sum paid to an approved company continues to be at 125%.

OPPI feels that approved Companies should be brought on an equal footing with approved National Laboratory, University, Indian Institute of Technology and other specified institutions.

OPPI wants that the government should increase the percentage of weighted deduction on contributions made to such companies to 175% to bring approved companies on an equal footing with those approved institutions referred to in Section 35(1)(ii) of the Act.