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R & D Expenditure and Deduction U/S 35

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(Querist)
20 January 2011 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. What care should be taken.
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CMA. Dinesh S Adhikari, ACMA

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CMA. Dinesh S Adhikari, ACMA (Expert)
20 January 2011 For claiming those expenses u/s 35 the company has to obtain a certificate from the Chartered Accountant and on certificate he will certify that how much amount would be claim u/s 35.

Regards!!!
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
20 January 2011 teh limit for expense on inhouse reserach is 125%.. pls correct me if the limit got change
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