us sec 35 d

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

02 September 2010 the company is a sectoin 25 company and trust u/s 12aa, weather preliminary exepenses include legal fees, conveyance, traveling expenses, repairs and maintainances etc.or not and weather we can amortize fully during the year or not if they are doing so, then is it allowed under income tax act, 1961

Arun

Arun (Expert)
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03 September 2010 Sec 35D Applies to Indian Company and all residents, Then this sec applies to Sec 25 Companies.

My observation if this provision applies then , ur bringing the provisions of PGBP further definition of charitable purpose also needs to be looked in. In which "Advancement of general public utility " will not be treated as Charitable purpose if it is commercial purpose.