Share issue exps can be sett off against Securities Premium but whether Exps for increase in authorised capital can set off against Securities premium ?
Sec Premium
Ameet (L) (1678 Points)
22 July 2010
CA Adarsh
(Job)
(82 Points)
Replied 22 July 2010
No Expenses incurred for increasing the Authorised Capital can not be Setoff from Securities Premium.
Rather the expense will not be allowable expense under Income Tax .
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