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Sec 35d of income tax act( biz or profession)

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Querist : Anonymous

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Querist : Anonymous (Querist)
09 September 2010 Can u plz explain me the provision of section 35D (Amortization of preliminary expenses) in case of corporate and non-corporate assessee?

Thanks in advance
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
09 September 2010 Read section 35D it is clear and no further explanation is required in that. 1/5 of expenses will be allowed every year, the total expenses allowable being restricted to 5% of the capital employed of the company.
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Querist : Anonymous

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Querist : Anonymous (Querist)
29 September 2010 THANK U SIR
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