Home › CA Final › taxation › Profits and Gains of Business or Profession › Section 35(2AB) weighted deduction for in-house …
Section 35(2AB) weighted deduction for in-house R&D currently is:
A175%
B150%
C200%
D100% of actual expenditure
Answer & Solution
Correct answer: D. 100% of actual expenditure
1. Section 35(2AB) earlier provided 200% weighted deduction for in-house R&D by approved company.
2. Reduced progressively; from AY 2021-22 onwards: 100% of actual expenditure.
3. Capital expenditure on R&D (other than land) is fully deductible under Section 35(1)(iv).
_Source: ICAI BoS CA Final Paper 7, Ch 3 "Profits and Gains of Business or Profession"_
Related questions
Non-speculative business loss in current year can be set off against:Section 145 method of accounting for PGBP is:'Block of assets' under Section 2(11) is:Section 36(1)(iva) deduction is for:Section 37(1) general deduction allows expenditure that is:Section 36(1)(viia) provision for bad debts is for:Section 30 covers expenses related to:Section 32AD investment allowance was for new plant in backward areas of: