Ameet (L) (1678 Points)
02 August 2010
What will be the treatment of ROC exps and Stamp duty payment for increase in authorised capital as per Companies Act and Income Tax Act. Kindly provide reference section under Companies Act and Income Tax Ac or Case law.
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 02 August 2010
Hi,
Fees paid to the RoC for increase in authorised capital is a capital expenditure not deductible u/s 37(1) but deductible u/s 35D.
Citation:-
1.
2. Mohan Meakin Breweries Ltd 117 ITR 501 (HP)- says that Fees paid for increase of authorised capital is an inadmissable expenses.
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