Income tax

J YAMINI (Student) (57 Points)

20 April 2014  

Dear Sir/ Madam,

1. An individual, got a 100% subsidy loan for a project which is approved by the prescribed authority and he dosen't have any other trading or business. It is under research now and no business is done. Will it be covered u/s 32.

2. Weighted deduction of 200% for inhouse research on bio-technology is eligible only for company?