31. Mr. X acquires an asset in the year 2015-16 for the use for scientific...
60.1K
Verified Solution
Link Copied!
Question
Accounting
31. Mr. X acquires an asset in the year 2015-16 for the use for scientific research for 7 2,75,000. He claimed deduction under section 35(1)(iv) in the previous year 2015-16. The asset was brought into use for the business of Mr. X in the P.Y.2020-21, after the research was completed. The actual cost of the asset to be included in the block of assets is
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
