A private limited company raised its authorised capital and paid stamp duty and ROC fees, so i want to know whether such expenditure is capital or revenue and how such expense is allowed in income tax.
4 Replies
CA Himanshu Awasthi
(Manager (Advances))
(520 Points)
Replied 28 March 2008
well it is a capital expenditure and it should be capitalised. i m not damn sure and u shd wait for reply from some experts here
C.A. M.Com. Suhas A. Nagpure
(CA)
(1175 Points)
Replied 31 March 2008
I think it is Miscellaneous Expenses & it will be shown on asset side of B/s till it will be written off.
C.rajesh
(Articles)
(1392 Points)
Replied 01 April 2008
the expenditure is treated as priliminary expenses and should be written off over a period of five years in equal instalmenmts as per sec.35D of income tax act.
Rachana
(CA Final)
(434 Points)
Replied 01 April 2008
Its preliminary exp. agree with rajesh's reply
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