A Ltd. started its production in the year 2014 in fertilisers in India which will be used for agricultural purposes. It incurred capital expenditure in the year 2014-15 for ₹ 150 Lakhs out of which ₹ 70 Lakhs was used fo
CS Executive · Tax Laws · PYQS · June 2024
A Ltd. started its production in the year 2014 in fertilisers in India which will be used for agricultural purposes. It incurred capital expenditure in the year 2014-15 for ₹ 150 Lakhs out of which ₹ 70 Lakhs was used for acquisition of Land. How much amount it can claimed as a deduction under section 35AD of the Income Tax Act, 1961 for the Assessment Year 2024-25?
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Income Tax
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