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Section 35 - Expenditure on Scientific Research

Income Tax - Profit and Gains of Business or Profession - 17 - SEC - 35: EXPENDITURE ON SCIENTIFIC RESEARCH In respect of expenditure on research, the following deductions shall be allowed: SECTION 35(1)(i) Revenue Expenditure incurred before commencement of business Revenue Expenditure incurred after commencement of business SECTION 35(1)(ii) DEDUCTION ON AMOUNT EQUAL TO 175% TO RESEARCH ASSOCIATION SECTION 35(1)(iia) DEDUCTION ON AMOUNT EQUAL TO 125% TO COMPANY SECTION 35(1)(iii) DEDUCTION ON .....

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encement of business Expenditure incurred on salary (excluding perquisite) and on purchase of material used in research within the 3 years immediately preceding the year of commencement of business, shall be allowed as a deduction in the year of commencement. Revenue Expenditure incurred after commencement of business 100% of revenue expenditure laid out or expended on scientific research related to the business carried on by the assessee. SECTION 35(1)(ii) An amount equal to 175% of any sum pai .....

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e Assessee. SECTION 35(1)(iia) An amount equal to 125% of any sum paid to a company to be used by it for scientific research for the business of the assessee: Provided that such company- Is registered in India Has as its main object the research and development Is, for the purposes of this clause, for the time being approved by the prescribed authority in the prescribed manner. SECTION 35(1)(iii) An amount equal to 125% of any sum paid to a university, college or other approved institution to be .....

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ated to business carried on by the assessee. Capital expenditure incurred on scientific research within 3 years immediately preceding the commencement of business shall be allowed as deduction in the year in which business is commenced. Notes: 1) No depreciation shall be allowed in respect of assets for which deduction has been claimed under section 35. 2) It is not necessary that the assessee should carry out the research himself. If research us carried out by some other person for the business .....

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GHER DEDUCTION ON PAYMENT MADE TO APPROVED SPECIFIED PERSONS FOR SCIENTIFIC RESEARCH Deduction - 200% of sum paid to National Laboratory, University, IIT or specified person approved by prescribed authority with a specific direction that it shall be used for scientific research under an approved research programme. [Research is related to business of assessee] Note: Deduction shall not be denied if the approval granted to National Laboratory, or research program is withdrawn after payment has be .....

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