18 August 2010
is the expenses related to issue of share capital of private company is treated as premilary expenses and cover under section 35D of income tax act for deduction? or it is capital nature expenditure and no tax treatment with reference to case law of Broke bond India Ltd. (SC) 1997. How can we say that issue of share capital is expansion of business to take the benefit of Section 35D of Income Tax act
18 August 2010
As per sec-35, the deduction of preliminary exp is alloewed, if expenditure is incurred at the time of formation or substantial expansion, otherwise expenses is not covered u/s 35D
18 August 2010
is the expenses related to issue of share capital of private company is treated as premilary expenses and cover under section 35D of income tax act for deduction? or it is capital nature expenditure and no tax treatment with reference to case law of Broke bond India Ltd. (SC) 1997. How can we say that issue of share capital is expansion of business to take the benefit of Section 35D of Income Tax act
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