Fixed assets purchased for research & development
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 September 2012
Can a manufacturing concern claim depreciation on fixed assets purchased for research & development with the Weighted deduction allowed under income tax act.
Amol S Joglekar
(Expert)
14 September 2012
Yes, no harm in doing so, so long as the manufacturing unit is able to PROVE the intent to that effect.
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