Table of Contents
·
3. [Section 32]- Depreciation –
for computing Profit & Gains of Business or Profession
o
Types
of depreciation allowance under Income-tax Act:
o
Steps
for Computing Depreciation:
o
Quantum
of Deduction under section 33AB :
§
How
to Compute Profits from such Business:
o
Quantum
of Deduction Under Section 33ABA:
o
(a)
In-house Scientific Research:
§
(i) Revenue Expenditure
[Section 35(1)(i)]:
§
(ii) Capital expenditure [Section
35(1)(iv) read with section 35(2)]:
o
Nature
and Amount of Deduction under section 35AD :
o
1. Remuneration to Employees U/s
37(1):
o
2. Payment of Penalty / Damages
U/s 37(1):
o
3.
Legal Expenses U/s 37(1):
o
4. Expenditure on Raising Loans
U/s 37(1):
o
6. Expenditure on Advertisement
U/s 37(1) :
o
7. Expenses allowable under
specific instructions of CBDT U/s 37(1)
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