Allowability of fees towards increase of authorised capital
This query is : Resolved
14 December 2011
Whether fees paid for increasing Authorised capital is allowed as deduction in the Income Tax Act
14 December 2011
Not allowable, as per supreme court judgement.
Guest
Guest
(Expert)
14 December 2011
Fees for increase in authorised capital is not allowed under income tax act under section 37.
14 December 2011
No, it is a capital expenditure hence disallowed.
14 December 2011
Chitti,
It is not allowed for deduction bse its relating to :
1) Stamp Duty
2) Capital Expenditure
etc.
It is not allowed for deduction bse its relating to :
1) Stamp Duty
2) Capital Expenditure
etc.
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