sec 35

Dear Fatema,

The words "Related to business" are not there under clause (ii) of Sec 35(1),,

Therefore weighted deduction equal to 125% will be allowed.

Hi,

As of now the assessee will get wighted deduction of 125% in computing PGBP, whether the research is connected to business or not....

So wen will asessee get 100% deduction?

Dear Fatema,

What kind of query is this??

Here Law is giving benefit & u r not ready to accept.

Nothing like that Amir.we were taught that we get 100% deduction u/s 35 in certain cases.I could not recall those situations in which we get 100% deduction.that is why that query

Dear Fatema,

Sec 35(1)(i), Research other than approved institutions,etc willget 100% deduction ..

Simple.

Originally posted by : Amir
	Dear Fatema, The words "Related to business" are not there under clause (ii) of Sec 35(1),, Therefore weighted deduction equal to 125% will be allowed.

Correct....sir.....

amir is right..........

Yes, I too agree with Amir Pragya Jhaa....

dats absolutely ryt1!!

When any sum paid to an approved institute u/s 35(1)(ii) for the purpose of carrying on a scientific research.. e.g X co. paid sum of Rs.15000 to Y university (assumed Approved University) for Scientific research(SR). Now X Co. is eligible for 125% weighted deduction. then Y university incurred expenditure for SR suppose Rs. 10000 then Y university  cannot get 125% deduction to avoid double deduction Y university can claim deduction upto Rs. 10000 i.e 100%

In the above situation there is 100% deduction.

Thanks Faiyaz.This is what exactly my professor said.

Dear Faiyaz,

Ya u r rite If Y spends it in house,   but now my question is if University Y donates this sum of Rs. 10,000 to university Z(say approved), then University Y will get 125% or 100%..

Originally posted by : Amir
	Dear Faiyaz, Ya u r rite If Y spends it in house,   but now my question is if University Y donates this sum of Rs. 10,000 to university Z(say approved), then University Y will get 125% or 100%..

Nothing is specified i the law about forwarding funds cases (or even in case laws). Therefore if  Y donates the same to Z, then Y will get 125% deduction on Rs. 10000/-.

INItially it was 100% only but it has been amended to 125% since last 2-3 years so amir is right

125%