Chandrashekhar Laddha (CA & CS) (98 Points)
22 December 2010HI,
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
Vivek Jarial
(Student)
(272 Points)
Replied 22 December 2010
this will be capitalised in the value of capital...
Chandrashekhar Laddha
(CA & CS)
(98 Points)
Replied 22 December 2010
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
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 22 December 2010
when its the spending towards capitalization, where from the question arise of expense in P/L?
CAclubindia
