02 April 2015
The Company has paid Rs. 58 lacs as stamp duty on amended Shareholder Agreement. Kindly update whether the stamp duty paid for amendment in shareholder agreement is an allowable expenditure as per income tax act.
02 April 2015
Any expenditure related to the operation of the company is allowable expenditure unless otherwise disallowed specifically.
Therefore, stamp duty paid in relation to amended shareholder agreement is allowable expenditure and you can claim under section 37(1) i.e. General Deduction.
CAclubindia
