Allowability of fees towards increase of authorised capital

This query is : Resolved 

14 December 2011 Whether fees paid for increasing Authorised capital is allowed as deduction in the Income Tax Act

14 December 2011 Not allowable, as per supreme court judgement.

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14 December 2011 Fees for increase in authorised capital is not allowed under income tax act under section 37.


14 December 2011 No, it is a capital expenditure hence disallowed.

14 December 2011 Chitti,

It is not allowed for deduction bse its relating to :
1) Stamp Duty
2) Capital Expenditure

etc.



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