R & D Expenses and Deduction U/S 35

Bimal Thacker (Proprietor) (762 Points)

20 January 2011  

A private limited company doing manufacturing business since last 10 years. The company has now incurred approx. Rs. 1 crore in capital expenditure relating to Building and equipment related to scientific research for its own business. Whether all such amount is eligible for deduction U/S 35? Whether any approval etc is required as R & D Centre before claiming deduction U/S 35.