Deduction available U/S 35(2AB)

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1 Points Posted on 31 January 2020
what is the deduction available in 35(2AB)
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On 31 January 2020 at 12:18 Report
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Section 35(2AB) of the Income Tax Act allows for a generous 150% deduction on expenditure incurred for in-house Research and Development (R&D). This relief is specifically for contributions made to approved national laboratories. It's important to note that while most R&D expenses qualify, the cost of land and buildings is excluded from this deduction.

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Studwnt
1141 Points Posted on 31 January 2020
It's for contribution to National laboratory
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On 31 January 2020 at 13:09
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CHARTERED ACCOUNTANT
1609 Points Posted on 31 January 2020
150% deduction available for expenditure incurred for in-house R&D except cost of land and building
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On 31 January 2020 at 14:27

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