# The Finance Act, 2008, Section 7: Amendment of section 35

- Act: The Finance Act, 2008
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2008/section/7/

## Text

Amendment of section 35. 7. In section 35 of the Income-tax Act, with effect from the 1st day of April, 2009,— (a ) in sub-section (1), after clause (ii), the following clause shall be inserted, namely:— "(iia) an amount equal to one and one-fourth times of any sum paid to a company to be used by it for scientific research: Provided that such company— (A ) is registered in India, (B ) has as its main object the scientific research and development, (C ) is, for the purposes of this clause, for the time being approved by the prescribed authority in the prescribed manner, and (D ) fulfils such other conditions as may be prescribed;"; (b ) in sub-section (2AB), after clause (5), the following clause shall be inserted, namely:— "( 6) No deduction shall be allowed to a company approved under sub-clause (C) of clause (iia ) of sub-section (1) in respect of the expenditure referred to in clause (1) which is incurred after the 31st day of March, 2008.". © Copyright. Taxmann Publications Pvt. Ltd.

---
Published by eCourtsIndia together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957.