my main business was sell of agricultural product
purchase godown for the purpose storage of such agricultural product
so such capital expense incurred by me is allowed 100% in sec 35AD
Yes, you can claim deduction @ 100% of capital expenditures.
But a few things to keep in mind:
- In case assessee has enjoyed the benefit of deduction u/s 35AD, he cannot claim any deduction for the same expenditure u/s 80 or any other provisions of Income-Tax Act.
- Also, the business loss will not be allowed to be carried forward and adjusted against any other business than specified business.
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