Dear Respected Members ,
I have a query regarding accounting treatment for expenses incurred on stamp duty paid for increase in authorized share capital .
In my case our one foreign company is contributing capital to our company as they will become our holding company after contributing such amount , as there share in issued capital will be more than 50 % . Afterwards some P&M will be purchased for expansion of business .
My query is whether we should expended off this amount in current year only or we should amortize it .
Thanks in Advance