Sec 35(1)(ii)
This query is : Open
28 May 2014
can you give any legal reference where it is mentioned that Sec 35(1)(ii) deduction is available to assessee carrying business or profession
28 May 2014
Dear Mr. Puneet,
As per sec. 35(1)(ii) of Income tax scientific capital expenditure is allowed as deduction @ 175% of amount of expenditure subject to donation is made to approved institute or organization for research and development, whether related to business or not.
Deduction will be allow in year of donation and up to the availability of profitability or remaining amount will be allowed in subsequent year and so on.
this below case may help you:
1) SHRIRAM SCIENTIFIC & INDUSTRIAL RESEARCH FOUNDATION V/s CENTRAL BOARD OF DIRECT TAXES - Decision by Delhi High Court
2) DHARA VEGETABLE OIL & FOODS CO LTD V/s DEPUTY COMMISSIONER OF INCOME TAX - Decision by Guajarat High Court
As per sec. 35(1)(ii) of Income tax scientific capital expenditure is allowed as deduction @ 175% of amount of expenditure subject to donation is made to approved institute or organization for research and development, whether related to business or not.
Deduction will be allow in year of donation and up to the availability of profitability or remaining amount will be allowed in subsequent year and so on.
this below case may help you:
1) SHRIRAM SCIENTIFIC & INDUSTRIAL RESEARCH FOUNDATION V/s CENTRAL BOARD OF DIRECT TAXES - Decision by Delhi High Court
2) DHARA VEGETABLE OIL & FOODS CO LTD V/s DEPUTY COMMISSIONER OF INCOME TAX - Decision by Guajarat High Court
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
