Amitav had made payment of (i) ₹60,000 to IIT, Kanpur for an approved scientific research programme; (ii) ₹90,000 revenue expenditure on in house R&D facility as approved by prescribed authority and (iii) an amount o
CS Executive · Tax Laws · PYQS · December 2020
Amitav had made payment of (i) ₹60,000 to IIT, Kanpur for an approved scientific research programme; (ii) ₹90,000 revenue expenditure on in house R&D facility as approved by prescribed authority and (iii) an amount of ₹2,00,000 to Indian Institute of Science, Bengaluru for scientific research. He wants to know about the total amount of deduction available as per provisions of the Act while computing the income under "Profits and gains from business" in the Asst. Year 2020-21.
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income from Business or Profession
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