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How Companies Can Claim Research and Development Tax Credit < Death By Taxes
Companies that are working on Research and development of medical sciences/technology or any advancement of technology can avail a facility provided by the government. This facility is called the Research and Development tax credit. The costs that the company bares – like the staff cost, contractor costs, material cost and software cost can be claimed as a credit with the help of this benefit. This scheme is provided by the government to support companies that are research oriented and this in turn helps the entire economic growth of the country.