35ad

Only capital expenditure (except exp. on  land and goodwill) or revenue expenditure (prior to commencement of specified business if capitalized) related to specified business is allowed as deduction u/s 35(AD) from the profit /gain from the specified business in the previous year in which an assessee starts its operation.If there is any loss from specified business due to such deduction it can be carried forward up to unlimited no. of years but can be set off against profit/gain from specified business only u/s 73 A.

Thank u saurabh sir

What will be the deduction rate on capital expenditure on building as its not in section exclusive list. Generally we apply section 35(1)(iv) in case of building and give 100% deduction but as we know this section 35AD provides 150% deduction also in some cases, does it mean 150% will also be available for capital expenditure on building?