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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 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 in which b .....

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llege/ institution is approved by Central Government under section 35(1)(ii). [Research is not related to business of Assessee] Where any sum is paid to such association/ university/ college/ institution in a PY relevant to the AY beginning on or after 1-4-2021, then the deduction under this clause shall be equal to 100% of the sum paid. (inserted by FA, 2016, w.e.f. 1-4-2021) Note: The deduction for the sum paid u/s 35(1)(ii) shall not be denied if the approval of research institute has been wi .....

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to 125% (100% w.e.f 1-4-2018, by FA, 2016) of any sum paid to a university, college or other approved institution to be used for research in social science or statistical research provided such university/ college/ institutions is approved by Central Government under Section 32(1)(iii). [Research is not related to business of assessee] Note: The deduction for the sum paid u/s 35(1)(iii) shall not be denied if the approval of research institute has been withdrawn subsequent to the making of payme .....

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at the assessee should carry out the research himself. If research us carried out by some other person for the business of the assessee, payment made to such other person will be treated as expenditure on research. 3) The set off and carry forward of unabsorbed research capital expenditure is in the same manner as that of depreciation. 4) If land and building is purchased through a composite agreement, then the cost of land and building shall be bifurcated on the basis of their FMV. Cost of the .....

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ess of assessee] Such institution shall issue a receipt of payment for carrying out such approved programme in Form 3CI. If deduction is allowed under this section, then no deduction for such sum shall be allowed under any other provisions of this Act Where any sum paid to such National Laboratory, University, IIT or specified person in the PY relevant to the AY beginning on or after 1-4-2021, then such deduction shall be equal to 100%. (inserted by FA, 2016, w.e.f. 1-4-2021) Note: Deduction sha .....

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