Can the company amortise the Expenses raleted to Issue of Share Capital in Subsequent years and Take under Sec 35D over 5 Years ?
please give replay.
3 Replies
Karthik
(C A Student)
(219 Points)
Replied 11 June 2009
No....only PRELIMINARY EXPENSES can be amortized, not subsequent expenses !!!
CA Lovenish Bansal
(JOB)
(343 Points)
Replied 11 June 2009
Agreed with Mr. Kartik. Subsequent expenditure will be of capital nature Hence will not be allowed
Thanks,
CA Amit Kumar Khaitan
(Research Analyst)
(360 Points)
Replied 12 June 2009
I do agree with Kartik but if there is an expansion of business then also 35D can be invoked.
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