Dear Kammu ji,
Thanks for your reply but the section 41(3) procedure is applicable on section 35(2B) expenditure and not on
35(2AB). Hence please further clarify the matter . My query is wether sale of such P & M would required prior permission of DSIR or not. What treatment to be given in Income Tax return as earlier we have claimed
deduction on these P & Ms.
If any one else is having solution .Pl write.
On Wednesday, April 22, 2015 6:06 PM, "kammu_singh@yahoo.co.in [aaykarbhavan]" <aaykarbhavan@yahoogroups.com> wrote:
My query is
1.what are the implication on sale of machines and other assets of the R & D centre.
- it will be business income if as per condition laid down in sec 41(3). crucial point is sold without having been used for other purpose. check it. if it is - business income for deduction and capital gain for sale will be taxable.
2. How the buyer company will get the benefit of R & D centre.
it will claimed as per 35(2ab).
3. IS it required to get the recognition afresh or the same will continue. Procedure for the same is required.
visit DSIR, they will explain. however, it is necessary to get registration and recognition before initiating any R&D activities.
1.what are the implication on sale of machines and other assets of the R & D centre.
- it will be business income if as per condition laid down in sec 41(3). crucial point is sold without having been used for other purpose. check it. if it is - business income for deduction and capital gain for sale will be taxable.
2. How the buyer company will get the benefit of R & D centre.
it will claimed as per 35(2ab).
3. IS it required to get the recognition afresh or the same will continue. Procedure for the same is required.
visit DSIR, they will explain. however, it is necessary to get registration and recognition before initiating any R&D activities.
__._,_.___
Posted by: ram agrawal <ram9ag@yahoo.com>
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