The Government of India constituted the Technology Development Board (TDB) in September 1996, as per the provisions of the Technology Development Board Act, 1995.

           The Act enables creation of a Fund for Technology Development and Application to be administered by TDB. The Fund receives grants from the Government of India out of the Cess collected by the Government from the industrial concerns under the provisions of the Research and Development Cess Act, 1986, as amended in 1995. Any income from investment of the amount of the Fund and the recoveries made of the amounts granted from the Fund are credited to the Fund. The Finance Act, 1999, enabled full deductions to donations made to the Fund for income tax purposes.

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