section 35
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 July 2011
if the business of an assessee is to conduct scientific research for others, then for the equipments used by him for this purpose, whether he will be allowed deduction u/s 35 or depriciation under sec. 32, if yes at what rate?
16 July 2011
If he has got all necessary approvals and recognition as required for the section, he can claim the entire value of equipments as expenditure in the year of purchase (after its business commences) , otherwise he can claim depreciation U/s 32.
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