Deduction available for Inhouse research & Development
This query is : Resolved
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
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.
N.B:- 1)Section refereed in your earlier query was correct. I stand corrected.
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