Sec. 35: Expenditure On Scientific Research.
As per Section 35(1), any revenue expenditure laid out or expended on scientific research related to the business is deductible.
Section 35(1) in The Income- Tax Act, 1995 (1) In respect of expenditure on scientific research, the following deductions shall be allowed- (i) any expenditure (not being in the nature of capital expenditure) laid out or expended on scientific research related to the business. 2 Explanation.-.
As per Section 35(2AB) of the Income-tax Act, 1961 (the Act) where a company is engaged in the business of bio-technology or in any business of manufacture or production of any article or thing 1.
SECTION 35(1)(iii) OF THE INCOME-TAX ACT, 1961 - SCIENTIFIC RESEARCH. NSC INTEREST.. , Bangalore has been approved by the Central Government for the purpose of clause (iii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act), read with Rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), from Assessment year 2011.
International Tax 1861. Section 35A withholding tax and asset-for-share transactions August 2010 - Issue 132 With effect from 1 September 2007, section 35A of the Income Tax Act No. 58 of 1962 (the Act) placed an obligation on any purchaser who pays consideration in excess of R2 million to a non-resident seller (or to any other person on behalf of that seller) of any immovable property in.
Section - 35, Income-tax Act, 1961 - 2015 84(Expenditure on scientific research85. 86 35. (1) In respect of expenditure on scientific research, the following deduc- tions shall be allowed— (i) any expenditure (not being in the nature of capital expenditure) laid out or expended on scientific research related to the 85business. 87(Explanation.
Application form from scientific and industrial research organisations for approval under section 35 of the Income-tax Act 1. (i) Name and registered address of the organisation (ii) In case of renewal of approval under section 35, give details of earlier approval 2. (i) Address of the Research Laboratory (indicate the year of establishment).
It is hereby notified for general information that the organization Tea Research Association, Kolkata has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of .section 35 of the Income-tax Act, 1961 (said Act), read with rules 5C and 5D of the Income-tax Rules, 1962 (said Rules) with effect from 1.4.2003 in the category of 'scientific research.
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Report from an accountant to be furnished under sub-section (2AB) of section 35 of the Act relating to in-house scientific research and development facility 1.
Explanation 1: Where an asset is used in the business after it ceases to be used for scientific research related to that business and a deduction has to be made under clause (ii) of sub-section (1) of section 32 in respect of that asset, the actual cost of the asset to the assessee shall be the actual cost to the assessee as reduced by the amount of any deduction allowed under clause (iv) of.
In respect of expenditure on scientific research, the following deduction shall be allowed: 1.Research should be related.
Income Tax Act, 1961. w w w. L a w y e r S e r v i c e s. i n. Section 35 ( View Judgements) Expenditure on scientific Research. Section 35A. EXPENDITURE ON ACQUISITION OF PATENT RIGHTS OR COPYRIGHTS. (1) In respect of any expenditure of a capital nature incurred after the 28th day of February, 1966 but before the 1st day of April, 1998, on.
Scientific Research (DSIR), the deduction cannot be denied to the taxpayer under Section 35(2AB) of the Income-tax Act, 1961 (the Act) on the basis of Form No. 3CL 3 issued by DSIR.
It is hereby notified for general information that the organization Eye Research Centre, Chennai has been approved by the Central Government for the purpose of clause (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 (said Act) read with rules 5C and 5E of the Income-tax Rules, 1962 (said Rules), with effect from 1-4-2009 in the category of other Institution, partly engaged in.
The existing provisions of section 35(1)(ii) of the Income-tax Act provide for a weighted deduction from the business income to the extent of 125 per cent of any sum paid to an approved scientific research association that has the object of undertaking scientific research or to an approved university, college or other institution to be used for scientific research.
ACT: INCOME TAX ACT, NO. 58 OF 1962 (the Act) SECTION: SECTIONS 11(a) AND 35. SUBJECT: RESEARCH AND DEVELOPMENT EXPENDITURE PAID TO A FELLOW GROUP COMPANY WHICH IS NOT A RESIDENT OF SOUTH AFRICA. 1. Summary. This ruling deals with the question as towhether research and development expenditure paid to a company within a group, which is not.