Income Tax Act, 2025
Section 5: Ins. by Act 20 of 1967, s. 33 and the Third Schedule (w.e.f. 11968).
5. Ins. by Act 20 of 1967, s. 33 and the Third Schedule (w.e.f. 11968).
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(b) no deduction shall be allowed under that clause for that previous year or for any
subsequent previous year;
(iii) if the asset mentioned in clause (ii) is sold, without having been used for other purposes, in
the year of cessation, the sale price shall be taken to be the value of the asset at the time of the
cessation ; and if the asset is sold, without having been used for other purposes, in a previous year
subsequent to the year of cessation, and the sale price falls short of the value of the asset taken into
account at the time of cessation, an amount equal to the deficiency shall be allowed as a deduction for
the previous year in which the sale took place;
(iv) where a deduction is allowed for any previous year under this section in respect of
expenditure represented wholly or partly by an asset, no deduction shall be allowed under 1[clause (ii)
of sub-section (1)] of section 32 2[for the same or any other previous year] in respect of that asset;
(v) 3[where the asset mentioned in clause (ii)is used] in the business after it ceases to be used for
scientific research related to that business, depreciation shall be admissible under 4[clause (ii) of
sub-section (1)] of section 32.
5[(2A) 6[Where, before the 1st day of March, 1984,the assessee pays any sum] 7[(being any sum paid
with a specific direction that the sum shall not be used for the acquisition of any land or building or
construction of any building)] to a scientific research association or university or college or other
institution referred to in clause (ii) of sub-section (1) 8[or to a public sector company] to be used for
scientific research undertaken under a programme approved in this behalf by the prescribed authority
having regard to the social, economic and industrial needs of India, then,—
(a) there shall be allowed a deduction of a sum equal to one and one-third times the sum so paid;
and
(b) no deduction in respect of such sum shall be allowed under clause (ii) of sub-section (1) for
the same or any other assessment year.]
8[Explanation.—For the purposes of this sub-section, “public sector company” shall have the same
meaning as in clause (b) of the Explanation below sub-section (2B) of section 32A.]
9[(2AA) Where the assessee pays any sum to a National Laboratory 10[or a 11[University or an Indian
Institute of Technology or a specified person] with a specific direction that the said sum shall be used for
scientific research undertaken under a programme approved in this behalf by the prescribed authority,
then—
(a) there shall be allowed a deduction of a sum equal to 12[one and one-half times] the sum so
paid; and
1. Subs. by Act 46 of 1986, s. 32, for “clauses (i), (ii), (iia), (iii) and (iv) of sub-section (1) or under sub-section (1A)”
(w.e.f. 11988).
no deduction shall be allowed under that clause for that previous year or for any
subsequent previous year;
if the asset mentioned in clause
is sold, without having been used for other purposes, in
the year of cessation, the sale price shall be taken to be the value of the asset at the time of the
cessation ; and if the asset is sold, without having been used for other purposes, in a previous year
subsequent to the year of cessation, and the sale price falls short of the value of the asset taken into
account at the time of cessation, an amount equal to the deficiency shall be allowed as a deduction for
the previous year in which the sale took place;
where a deduction is allowed for any previous year under this section in respect of
expenditure represented wholly or partly by an asset, no deduction shall be allowed under 1[clause
of sub-section
3[where the asset mentioned in clause
of
sub-section
6[Where, before the 1st day of March, 1984,the assessee pays any sum] 7[(being any sum paid
with a specific direction that the sum shall not be used for the acquisition of any land or building or
construction of any building)] to a scientific research association or university or college or other
institution referred to in clause
of sub-section
8[or to a public sector company] to be used for
scientific research undertaken under a programme approved in this behalf by the prescribed authority
having regard to the social, economic and industrial needs of India, then,—
there shall be allowed a deduction of a sum equal to one and one-third times the sum so paid;
and
no deduction in respect of such sum shall be allowed under clause
of sub-section
for
the same or any other assessment year.]
8[Explanation.—For the purposes of this sub-section, “public sector company” shall have the same
meaning as in clause
of the Explanation below sub-section
of section 32A.]
9[
Where the assessee pays any sum to a National Laboratory 10[or a 11[University or an Indian
Institute of Technology or a specified person] with a specific direction that the said sum shall be used for
scientific research undertaken under a programme approved in this behalf by the prescribed authority,
then—
there shall be allowed a deduction of a sum equal to 12[one and one-half times] the sum so
paid; and
1. Subs. by Act 46 of 1986, s. 32, for “clauses
and
of sub-section
or under sub-section