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 Topics :
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
Related Topics :
CAclubindia
