Section-35-2ab deduction
This query is : Open
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?
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?
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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