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Allowed as preliminary expenses

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(Querist)
24 September 2011 Whether Expenditure incurred to increase the autorised Capital can be considered as preliminary expenses. shoud it be w/off in 5 year
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CA Navin Jain

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CA Navin Jain (Expert)
24 September 2011 yes you can do that as per companies act. however Expenditure incurred to increase the autorised Capital shall be disallowed ae per income tax act.

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