Section 35 Claim

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Student
29 Points Posted on 03 May 2023
Can expenditure on in-house research be claimed for Building incurred by company engaged in manufacturing cosmetics
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On 03 May 2023 at 08:39 Report
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This discussion clarifies that while expenditure on in-house research for cosmetic manufacturing is eligible for a Section 35(2AB) deduction, the cost of constructing the research facility building itself is not. It then raises the question of whether this building expenditure could be claimed under Section 35(1)(iv) of the Income Tax Act.

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Working at Private Company
8643 Points Posted on 04 May 2023

the expenditure on in-house research carried out by a company engaged in manufacturing cosmetics is eligible for a deduction under Section 35(2AB) of the Income Tax Act, subject to meeting the specified conditions. However, the expenditure on the construction of the building in which the in-house research facility is located is not eligible for deduction under Section 35(2AB)

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On 04 May 2023 at 12:14
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Student
29 Points Posted on 05 May 2023
What about claiming it under Sec 35(1)(iv) ?
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On 05 May 2023 at 21:34

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