Research expenditure deduction enhanced for payments to approved national laboratories, subject to single claim restriction and approval procedures apply. Amendment adds sub section (2AA) to section 35 allowing an enhanced deduction for payments made to a National Laboratory for approved scientific research, subject to a prohibition on claiming the same payment under any other provision. Eligibility requires the laboratory to obtain approval from the prescribed authority through an application in the prescribed form, and the authority may call for documents to verify the genuineness of the research activities. 'National Laboratory' is defined to include laboratories under ICAR, ICMR or CSIR approved by the prescribed authority.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Research expenditure deduction enhanced for payments to approved national laboratories, subject to single claim restriction and approval procedures apply.
Amendment adds sub section (2AA) to section 35 allowing an enhanced deduction for payments made to a National Laboratory for approved scientific research, subject to a prohibition on claiming the same payment under any other provision. Eligibility requires the laboratory to obtain approval from the prescribed authority through an application in the prescribed form, and the authority may call for documents to verify the genuineness of the research activities. "National Laboratory" is defined to include laboratories under ICAR, ICMR or CSIR approved by the prescribed authority.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
