pGBP

1. Mr. Abhay has furnished the following particulars relating to payments made and expenditure incurred towards scientific research for the year ended 31.3.2022: Sl. No. Particulars (in lakhs) (1) Payments made to an approved Agro Research Association. 25 (11) Payment made to RR University, an approved University 15 (iii) Payment made to XY College 17 (iv) 10 Payment made to IIT, Madras (under an approved programme for scientific research) (v) Machinery purchased for in-house scientific research 20 (vi) Salaries to research staff engaged in in-house scientific research 14 Compute the deduction available under section 35 of the Income-tax Act, 1961 for AY 2022-23, while computing his income under the head "Profits and gains of business or profession". (5 MARKS)

Sowmiga Chandrasekaran

CA Inter

★ 7K+

03-Aug-23 21:59

649