A Individual is having a salary income and doing his/her own research. If the research is sucessful, when can the expenses be deducted.
Thank U
Income tax s.35(2ab)
Replies (1)
Any revenue expenditure incurred by the assessee himself on scientific research related to his business.
-Expenditure incurred within 3 years immediately preceding the commencement of the business - payment of #salary to research staff engaged in scientific research related to his business carried on by the taxpayer or on material inputs for such scientific research will be allowed as deduction in the year in which the business is commenced.
#salary will not include any perquisites.
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