A private limited company doing manufacturing business since last 10 years. The company has now incurred approx. Rs. 1 crore in capital expenditure relating to Building and equipment related to scientific research for its own business. Whether all such amount is eligible for deduction U/S 35? Whether any approval etc is required as R & D Centre before claiming deduction U/S 35.
Hi Bimal,
No approval is required for availing 100% capital expenses deduction relating to Sceintific Research if it's core business is to conduct sceintific research.
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