Expenses of Public Issue Increse
This query is : Resolved
11 April 2008
An assessee has incurred subsequent public issue expenses of Rs. 10,000 . Is it allowable expenditure or not for the business or it comes under Section 35D? Please answer this as early as possible.
Expenses incured for raising authorised capital of the company subsequently? What is the treatment for this in Income Tax?
Expenses incured for raising authorised capital of the company subsequently? What is the treatment for this in Income Tax?
S.Srinivasaraghavan
(Expert)
11 April 2008
Check up if it falls under section 35D(1)(ii). If so it is preliminary expenses only. Otherwise it is not.
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