Premeim on Redemption of Preference Share or Debentures
This query is : Resolved
26 December 2008
I want to known that whether Premium paid on Redemeeing Preference Share or Debenture is allowed as Expense in the Companies act and under Income tax act
14 April 2012
Yes. Generally if preference shares are to be redeemed at premium, securities premium account will be utilised, if there is no sufficient balance in it, then it will be paid through P&L. It is in the nature of interest and is tax deductible.
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