A company incurred capital expenditure on scientific research viz., (i) land ₹5 lakh; (ii) building ₹10 lakh; and (iii) equipments ₹7 lakh. The amount of expenditure eligible for deduction under section 35 would be —
CS Executive · Tax Laws and Practice · PYQS · December 2016
A company incurred capital expenditure on scientific research viz., (i) land ₹5 lakh; (ii) building ₹10 lakh; and (iii) equipments ₹7 lakh. The amount of expenditure eligible for deduction under section 35 would be —
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
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