03 July 2013
Hi, What is the provision regarding professional expenses incurred in raising capital for a private company? -Whether it has to be deferred or has to be treated as a normal expense or to be capitalized ?
03 July 2013
If you follow Accounting Standards, then there is no requirement to defer any expenditure which does not qualify for recognition as 'Asset'. If you do not follow AS, then you may do whatever you like, from taxation point of view, check section 35D of Income Tax.
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