CA ADITYA SHARMA (CA IN PRACTICE ) (16719 Points)
16 June 2011WHERE WILL THE EXPENDITURE INCURRED ON INCREASE IN AUTHORISED SHARE CAPITAL BE SHOWN IN THE FINANCIAL STATEMENT OF AN EXISTING COMPANY????
IS THERE ANY DEDUCTION AVAILABLE FOR THE ABOVE MENTIONED EXPENDITURE OTHER THAN THAT MENTIONED U/S 35 D OF INCOME TAX ACT
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 16 June 2011
Friend
This ought to have been posted in incoem tax forum.
Any ways, AC fees have to disallowed while computing business income of the assessee company. It is debatable if section 35D can be used to avail a deduction @ 20%.
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 16 June 2011
| Originally posted by : Dipjyoti Majumdar | ||
 |
Friend This ought to have been posted in incoem tax forum. Any ways, AC fees have to disallowed while computing business income of the assessee company. It is debatable if section 35D can be used to avail a deduction @ 20%. |
 |
thanks sir for the reply
CAclubindia
