Ad Free CAclubindia and Daily Updates on your Mobile. Subscribe Now!

query on sec 35(2AB) of income tax

s.lohani (Final student) (1050 Points)

18 August 2009

IS deduction allowed in expenditure on cost of building in case of scientific research of specified business?

Our sir's pamphlet says no(150% of any expenditure (other than expenditure on cost of land and building)

But padhuka says 100% deduction is available for building; land nil deduction; and other exps 150%

Reply
Follow
Share

1 Replies

Pompy (student) (44 Points)
Replied 19 August 2009

Yes its written correct in paduka and also in your sir's notes... As per sec 35(2AB)- 150% deduction is not available for land and building... But deduction is available 100% for capital expenditure except land. 150 nahi milega par 100 to milega on building as only land is excluded for deduction 150 and 100%... Building will get 100 not 150% and other expenditure will get 150 if it complies with the conditions of sec 35 (2AB) or else 100%.