20 January 2011
A private limited company doing manufacturing business since last 10 years. The company has now incurred approx. Rs. 1 crore in capital expenditure relating to Building and equipment related to scientific research for its own business. Whether all such amount is eligible for deduction U/S 35? Whether any approval etc is required as R & D Centre before claiming deduction U/S 35. What care should be taken.
20 January 2011
For claiming those expenses u/s 35 the company has to obtain a certificate from the Chartered Accountant and on certificate he will certify that how much amount would be claim u/s 35.
CAclubindia
