Where the assessee does not himself carry on scientific research but makes contributions to an approved university, college or institution, to be used for scientific research related or unrelated to the business of asses
CS Executive · Tax Laws and Practice · PYQS · December 2014
Where the assessee does not himself carry on scientific research but makes contributions to an approved university, college or institution, to be used for scientific research related or unrelated to the business of assessee, then the amount of deduction from income of business shall be allowed on such contribution to the extent of —
Answer & Explanation:
Correct Answer: Option (B)
Correct answer: (B) 175%. This answer applies to the historical law and assessment-year context of this December 2014 paper; later amendments may differ.
Topics: Income Tax Act, 1961
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