s.lohani (Final student) (1050 Points)
18 August 2009IS 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%
Anuraag Sharma
(Sr Executive Finance)
(845 Points)
Replied 18 August 2009
deduction is allowable under section 35 on capital expenditure for research purposes for construction of a building (which is under construction & even if not put to use and excluding cost of land) @ 100% during the previous year, if such expenditure is realted to the business of the assessee.
Further N deduction is available in respect of capital expenditureincurred on the acquisition of land
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