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Income tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
11 March 2010 We have paid a fees of Rs.200000 during the financial year 2008-2009 towards increasing authorised capital.

Whether it is a admissible expenses under income tax act ?

Pls advice.
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CA Robin Betala

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CA Robin Betala (Expert)
11 March 2010 It is capital expenditure and not allowed
As per case law Punjab state Industrial Development Corporation Ltd

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