Thursday, March 10, 2011

Finance Act 2010 - Substantial Increase in % of Weighted Deduction u/s35

Substantial Increase in % of wtd Deduction u/s35

*Sec35(1)(ii) Amount paid to Approved Research Association,university,college,institutions of SCIENTIFIC RESEARCH-Increase from 125% to175%

*Sec35(2AA) Amount paid to National Lab,University,an IIT or specified person for Approved Scientific Research Program-Increase from 125% to175%

*Sec35(2AB) Exp on Scientific Research (Otherthan exp on Land&Bldng)on IN-HOUSE R&D facility incurred by a COMPANY-Increase from 150% to200%

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