- Is it Mandatory for businesses fulfilling the criteria of Sec 35AD to claim deduction of expenses in the year of commencement itself i.e if business commences on 01/04/2018 can he claim the same in PY 2023-24??
- Where a business is commenced in the year 2018, and purchases any capital asset necessary for the working of business in the year 2023, can he claim the deduction of capital expenses for the same i.e does the section implies that only capital expenses incurred before the commencement and capitalised in the books can be claimed and no subsequent capital expenses incurred can be claimed?
- Where a Business operates under multiple branches, can that new branch/establishment claim deduction of revenue & eligible capital expenses incurred?
Deduction under Sec 35AD for specified businesses
Aditya Hegde (1 Points)
06 October 2024
CAclubindia
