16 December 2011
Fees paid for increase in authorised capital is capital in nature and is not deductible u/s 37 as per many judgements given by high courts. So the expenses as such are required to be capitalised.
17 December 2011
Debit Share issue expenses account and credit bank account. And thereafter use section 35D and deduct this amount in five installments in profit & loss account for the next five years.
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