25/01/2019
CONTRIBUTION TO NATIONAL LABORATORY (Sec.35(2AA) :- The provisions of section 35(2AA) are given below :-
CONDITIONS -The following conditions should be satisfied -
1.payment is made to
a. National Laboratory; or
b. University; or
C. Indian Institute of Technology; or
d. Specified person as approved by the prescribed authority.
2. The above payment is made under a specific direction that it should be used by the aforesaid person for undertaking scientific research programme approved by the prescribed authority.
AMOUNT OF DEDUCTION :- If the aforesaid conditions are satisfied, the taxpayer is eligible for deduction as follows :-
Deduction 125% of actual payment150% of actual payment
For the assessment years 1994-95 to 2010-11 :- 125% of actual payment
For the assessment year 2011-12 :- 175% of actual payment
For the assessment years 2012-13 to 2017-18 :- 200% of actual payment
For the assessment years 2018-19 to 2020-21 :- 150% of actual payment
From the assessment year 2021-22 onwards :- 100% of actual payment
Such contribution which is eligible for deduction under the aforesaid provisions is not eligible for any other deduction under the Act. The aforesaid deduction will not be denied (with effect from the assessment year 2006-07) merely on the ground that after the payment made by the assessee to these institutions, the approval granted to National Laboratory specified person has been withdrawn or approval granted to scientific research programme of National Laboratory/ University/ IIT specified person have been withdrawn.
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