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Section-35-2ab deduction

This query is : Open 
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(Querist)
26 October 2016

Dear expert,
We are engaged in the business of biotechnology and we have in-house scientific research and development facility approved by the prescribed authority.

Can we claim expenditure incurred for research and development of intangible asset arising from internal projects?
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Ankur Singhal

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Ankur Singhal (Expert)
27 October 2016 Dear you can claim deduction at the rate 200% on intangible asset created. This section only forbids deduction on expenses made for land or building
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