Sec 35(2AB)

This query is : Resolved

Arabinda Ghosh (Querist)
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13 October 2019 Dear Expert,
A company has filed the application for renewal of recognition of in house R&D. Along with the same, the company submitted manually part b and c of form 3 CK. The company CV received the renewal of recognition in April 2018 only. The company filed online application for approval in sept 2019.

Can company claim deduction u/s 35(2ab) for FY 2018-19?

Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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04 June 2020 https://taxguru.in/income-tax/section-352ab-scientific-research-expenditure-deduction-disallowed-approval-prescribed-authority-subsequent-year.html
https://assets.kpmg/content/dam/kpmg/in/pdf/2017/10/KPMG-Flash-News-Department-of-Scientific-and-Industrial-Research-3.pdf
https://www.incometaxindia.gov.in/Rules/Income-Tax%20Rules/103120000000007105.htm