Pgbp
This query is : Resolved
14 February 2013
pls tell me sec 35 expenditure on scientific research
14 February 2013
Section 35 is like a long tale and can not be told in a single Episode. It is full of turns & twists and you may require at least 3-4 readings to grasp it properly. However, the tips provided here may be quite useful to you. The highlights of the section-
1. This section is a path breaker and exceptional in the Income-Tax Act. The motive of the section is very much clearly borne into mind.
.
A. It allows expenditure of Capital Nature also.
.
B. It allows weighted deduction. If you spend Rs 100/ you can claim Rs 175/ or Rs. 125/- or Rs. 200/ as deduction.
.
C. It allows deduction in respect of amount donated to other institutions.
.
D. In some cases expenditure may or may not relate to the business of the assessee.
.
E. Certain Prior Period Expenditures are also allowed in the prescribed manner.
.
F. The assessee has to follow certain prescribed regulatory procedures to avail such deduction.
.
G. In some cases expenditure on land and building is allowed whereas in certain cases it is not allowed on land.
.
If you read the section by keeping mind the aspects mentioned here in above,(Of course you may add certain other aspects also) I think you could be able to re-tell the tale as and when required.
1. This section is a path breaker and exceptional in the Income-Tax Act. The motive of the section is very much clearly borne into mind.
.
A. It allows expenditure of Capital Nature also.
.
B. It allows weighted deduction. If you spend Rs 100/ you can claim Rs 175/ or Rs. 125/- or Rs. 200/ as deduction.
.
C. It allows deduction in respect of amount donated to other institutions.
.
D. In some cases expenditure may or may not relate to the business of the assessee.
.
E. Certain Prior Period Expenditures are also allowed in the prescribed manner.
.
F. The assessee has to follow certain prescribed regulatory procedures to avail such deduction.
.
G. In some cases expenditure on land and building is allowed whereas in certain cases it is not allowed on land.
.
If you read the section by keeping mind the aspects mentioned here in above,(Of course you may add certain other aspects also) I think you could be able to re-tell the tale as and when required.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- Itr processing refund
- Multiple payment of self assessment tax for A Y 2025-2026
- Rent claimed on building given on permissive possession basis
- ITR 44AD SECTION
- Gst reverse charge mechanism to be claimed in the month of payment
- Residential status of non resident
- TDS refund Indemnity Bond
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
