Section 35 Claim
Monish Garach (Student) (29 Points)
03 May 2023
Can expenditure on in-house research be claimed for Building incurred by company engaged in manufacturing cosmetics
2 Replies
CA Rakesh Ishi
(Working at Private Company)
(8202 Points)
Replied 04 May 2023
the expenditure on in-house research carried out by a company engaged in manufacturing cosmetics is eligible for a deduction under Section 35(2AB) of the Income Tax Act, subject to meeting the specified conditions. However, the expenditure on the construction of the building in which the in-house research facility is located is not eligible for deduction under Section 35(2AB)
Monish Garach
(Student)
(29 Points)
Replied 05 May 2023
What about claiming it under Sec 35(1)(iv) ?
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