9911796707
TMI BlogAmendment of section 35.X X X X Extracts X X X X X X X X Extracts X X X X ..... nserted, namely:- Provided further that where any sum is paid to such association, university, college or other institution in a previous year relevant to the assessment year beginning on or after the 1st day of April, 2021, the deduction under this clause shall be equal to the sum so paid; ; (b) in clause (iia), the words an amount equal to one and one-fourth times of shall be omitted; (c) in cla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion, the following proviso shall be inserted, namely:- Provided that where such expenditure on scientific research (not being expenditure in the nature of cost of any land or building) on in-house research and development facility is incurred in a previous year relevant to the assessment year beginning on or after the 1st day of April, 2021, the deduction under this clause shall be equal to the ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 20. It is further proposed to reduce the said weighted deduction to one hundred per cent. from the financial year 2020- 2021 and subsequent years. Clause (iia) of sub-section (1) of the said section provides weighted deduction in respect of contribution to a company engaged in scientific research. It is proposed to amend the said clause (iia) so as to reduce the said weighted deduction from one hu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of two hundred per cent. of any sum paid to a National Laboratory or a University or an Indian Institute of Technology or a specified person for the purpose of an approved scientific research programme. It is proposed to amend the said clause (a) so as to reduce the said weighted deduction from two hundred per cent. to one hundred and fifty per cent. from financial year 2017-2018 to 2019-2020. It ..... X X X X Extracts X X X X X X X X Extracts X X X X
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