What is the difference between the inhouse research refered to in section 35(2AB) and the revenue research incurred by the assessee u/s 35(1)(i). Both are incurred by the assessee , he is not contributing to someone to do research for him, both are scientific research only..... So how to classify them.
Menu
Expenditure on scientific research sec 35
Replies (2)
these are the topics related to the incometax and u can refers it from v k singhania answer is 175 % and 200% of the scientific research
In Sec 35(1)(i), the assessee makes an expenditure which is revenue in nature and fully relates to its business. Deduction = 100%
In Sec 35(2AB), the assessee is engaged in the production/manufacture of a specified article + has incurred expenditure on in-house research. the expenditure on land and building is not considered.) Deduction = 200%.
Also, this deduction can be claimed only if assessee enters into an agreement with the prescribed authority to carry on the research with co-operation and allow the audit to be done for his expenditure.
Recent Topics :
- NRI since March 2023 – resident savings acco
- My All-Time Top 15 Indian Web Series
- Wrong date of invoice
- Paper 6 - IBS
- Chhath Puja 2026 Dates Timing Tithi
- Tax Benefit on Second Property
- IPO application checklist: 18 rules that decide wh
- NSE IPO Price, GMP, Allotment Date and Listing
- Gst tax rate
- Cash deposited by customer
Related Topics :
CAclubindia
