11 April 2008
budget 2008-09 amended Section 35D extending benefit under seC.35D to any unit. Earlier this benefit was only to industrial undertaking or industrial unit.
IN DETAIL:
Amortisation of preliminary expenses Section 35(D) – Scope Extended
As per the existing provisions, once the business has commenced the benefit is available only for extension of the industrial undertaking or setting up of a new industrial units. The word ‘industrial’ is omitted now to extend the benefit to all other sectors. R.V.RAO