TMI BlogAmendment of section 35.X X X X Extracts X X X X X X X X Extracts X X X X ..... ng proviso shall be inserted, namely:- Provided further that where any sum is paid to such association, university, college or other institution in a previous year relevant to the assessment year beginning on or after the 1st day of April, 2021, the deduction under this clause shall be equal to the sum so paid; ; (b) in clause (iia), the words an amount equal to one and one-fourth times of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be substituted; (b) after clause (1) and before the Explanation, the following proviso shall be inserted, namely:- Provided that where such expenditure on scientific research (not being expenditure in the nature of cost of any land or building) on in-house research and development facility is incurred in a previous year relevant to the assessment year beginning on or after the 1st day of Ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... per cent. to one hundred fifty per cent. from financial year 2017-2018 to 2019-2020. It is further proposed to reduce the said weighted deduction to one hundred per cent. from the financial year 2020- 2021 and subsequent years. Clause (iia) of sub-section (1) of the said section provides weighted deduction in respect of contribution to a company engaged in scientific research. It is propose ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in clause (a) of sub-section (2AA) of the said section provide for a weighted deduction to the extent of two hundred per cent. of any sum paid to a National Laboratory or a University or an Indian Institute of Technology or a specified person for the purpose of an approved scientific research programme. It is proposed to amend the said clause (a) so as to reduce the said weighted deduction from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 19-2020. It is further proposed to reduce the said weighted deduction to one hundred per cent. from financial year 2020-2021 and subsequent years. These amendments will take effect from 1st April, 2018 and will, accordingly, apply in relation to the assessment year 2018- 2019 and subsequent years. - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxatio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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