Applicablity of section 35d

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 July 2013 Dear Sir/Madam,
Kindly let me know whether section 35D is applicable to a partnership firm? In the books i read that "It is applicable to an Indian company or any other assessee resident in India". so as per the above lines, it should be applicable to a firm, but few of my friends are suggesting that it will not apply to a firm. Kindly confirm.

Thanks in advance.

CA Vijeta Verma

CA Vijeta Verma (Expert)
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26 July 2013 35D applies on a resident assessee.There is no exclusion of a partnership firm.So it is available for firm.
There is a difference in treating the expenditure for company & a firm.