Bhaskaran Chackrapani Warrier's Expert Profile

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Graduate of Kerala University.

Fellow member of ICAI.

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Gajjala Satheesh says : Service tax monthly returns
Sir, Service tax site is showing monthly returns. how to submit every month returns.

Mallikarjun Dambal says : Share Application money not refunded
Sir, A pvt ltd company received share application money from foreign. Along with other investment from domestic investors, the company deposited in Fixed Deposit, later broke the FD, purchased a land and sold it at premium. Nothing was intimated to RBI, now the company wants to refund the foreign money & route it through INR to avoid the complications of RBI & FEMA. Kindly advise on 1. Procedure to repay back the money in USD? 2. What could be the penalty/fine for the non compliance? Thanks in Advance

rakesh says :
i want known from u that donation under 80G is considered while deducted tds on salary by company

CA Nimesh Maheshwari says : Expenditure on increase in authorisd share capital
Dear Sir, My query is regarding the allowability of Expenditure incurred against increase in authorised share capital. Based on going on some case laws adjudged by various honourable courts in India, I have an understanding that the fee paid to ROC is a capital expenditure and hence disallowed. Names of some of important case laws are reproduced below for your ready reference: 1. Brooke Bond India limited case [(1997) 225 ITR 798 2. Punjab State Industrial Development Corporationn ltd 225 ITR 792 (SC). The same view has also been expressed by you a number of times. However, based on a discussion I also believe that the authorised share capital of a company is increased when a resolution to that effect is passed in the General Meeting and the payment of fee is statutory payment. The same neither in any case increases the capital base of the company nor does it lead to any future profitability. Thus, why it has been treated as capital expenditure? Also basis my research over net, I have come across a view that the object of the assessee is also a decisive factor for determination of allowability. Would request you to guide. Further, in case the same is a disallowed expenditure; what will be the accounting treatment viz. to say that will the same be considered as a permanent difference. Further more would request you if you have some recent judgements on tax treatment of fees paid to ROC. Thanks in advance.