IS deduction allowed in expenditure on cost of building in case of scientific research of specified business?
Our sir's pamphlet says no(150% of any expenditure (other than expenditure on cost of land and building)
But padhuka says 100% deduction is available for building; land nil deduction; and other exps 150%
Menu
query on sec 35(2AB) of income tax
Replies (1)
Yes its written correct in paduka and also in your sir's notes... As per sec 35(2AB)- 150% deduction is not available for land and building... But deduction is available 100% for capital expenditure except land. 150 nahi milega par 100 to milega on building as only land is excluded for deduction 150 and 100%... Building will get 100 not 150% and other expenditure will get 150 if it complies with the conditions of sec 35 (2AB) or else 100%.
Recent Topic
- Reporting STCG on non equity oriented MF
- Section 54F exemption for buying a plot
- My client missed to file ITR 3 for AY 25-26
- Subscription/Membership fees
- Inverted tax gst refund
- Mismatch of pincode and district while registering
- Total income less than 12 lakhs but after processi
- Is Getsvision Solutions right for SMTP bulk email
- Queries on Stock/ETF gifting.
- Adding bank account for the deceased for ITR refun
Related Topics
CAclubindia
