Deduction available for Inhouse research & Development

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khushboo nangalia (Querist)
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04 December 2008 Deduction available u/s 35 for inhouse research & development - whether the same is available for all expenses including foreign exchange fluctuation & bank charges or it is limited to some extent

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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04 December 2008 According to me weighted deduction shall not be claimed for foreign exchange differences and bank charges etc because,though the section says any expenditure,rule 6(7A)used the word expenditure incurred for the purpose of approval.

N.B:- 1)Section refereed in your earlier query was correct. I stand corrected.

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