Stamp Duty on issue of share - Disallowed

Tax queries 3016 views 3 replies

HI,

Whether stamp duty paid by company on issue of shares (in response to request of rematerialisation by share holder) is an expense allowable under income tax act or not.

 

Regards

Chandrashekhar Laddha

+91 99252 37250

Replies (3)

this will be capitalised in the value of capital...

Thanks Vivek.

But I don't want to know accounting treatment.

I am asking whether such expenditure by company will be an allowable expenditure under income tax act or not.

Thanks

when its the spending towards capitalization, where from the question arise of expense in P/L?


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