Roc stamp duty paid

This query is : Open

bhavik mehta (Querist)
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06 February 2014 Dear All,

My company has increased its share capital and accordingly paid stamp duty as per the rules of Rs. 20,00,000/-.

I have doubt about its treatment of accounting and also whether it should be expense off or should be proportionately expenses off over the period??

& also guide accounting treatment if Foreign Exchange Gain occured in share application money received from NRI .

Please guide.

Thanks

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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07 February 2014 For accounting purpose it should be w/off in the year of occurrence itself. But for taxation ,disallow being not a revenue expenditure (225 ITR 792). However, there is a case law (The Federal bank ltd) allowing it as revenue expense for the purpose of taxation.

bhavik mehta

bhavik mehta (Querist)
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10 February 2014 Thank you sir,

Can you also guide about the foreign exchange gain occurance if any , in case of Share application money received from NRI??

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