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Stamp duty paid

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(Querist)
07 February 2013 Whether stamp duty paid on issuance of shares are allowable expenditure and what is the accounting treatment of the same.
Please enlighted
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CA Kishore Tallam

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CA Kishore Tallam (Expert)
08 February 2013 Yes, it is tax deductible expenditure.
Treatment:
Expenses A/c Dr
To Payable / Bank A/c.

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