section 35D
This query is : Resolved
10 April 2008
AMENDMENTS MADE WITH RESPECT TO CLAIM OF DEPRECIATION FOR ASSETS USED FOR RESEARCH & DEVELOPMENT WORK.
11 April 2008
budget 2008-09 amended Section 35D extending benefit under seC.35D to any unit.
Earlier this benefit was only to industrial undertaking
or industrial unit.
IN DETAIL:
Amortisation of preliminary expenses Section 35(D) – Scope Extended
As per the existing provisions, once the business has commenced the benefit is available only for extension of the industrial undertaking or setting up of a new industrial units. The word ‘industrial’ is omitted now to extend the benefit to all other sectors.
R.V.RAO
Earlier this benefit was only to industrial undertaking
or industrial unit.
IN DETAIL:
Amortisation of preliminary expenses Section 35(D) – Scope Extended
As per the existing provisions, once the business has commenced the benefit is available only for extension of the industrial undertaking or setting up of a new industrial units. The word ‘industrial’ is omitted now to extend the benefit to all other sectors.
R.V.RAO
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