Sec.35D


08 April 2009 Whether expenses incurred on increase in authorised capital / Incorporation expenses of ROC are allowable to the extent of 20% or not?
Further what AS-29 says about such expenses?

08 April 2009 Fee to ROC for increasing capital can be deducted u/s 35D. Citation:- Punjab State Industrial Development Corporation Ltd 225 ITR 792 (SC).

08 April 2009 Incorporation expenses are covered u/s 35D(2) of The Income tax Act,1961.
Last part is left open for delibration.


08 April 2009 as-29, does not recognizes it as Intangible assets now, therefore it needs to be expensed in p& L a/c.

09 April 2009 What do you mean by now? Wheter earlier these expenses were treated as intangible assets?
Please answer with peculiarity ,this question is confusing me a lot



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