Allowability of fees towards increase of authorised capital

This query is : Resolved

CA.Leela Kumar (Querist)
Follow

14 December 2011 Whether fees paid for increasing Authorised capital is allowed as deduction in the Income Tax Act

Aijaz Shaikh (Expert)
Follow

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.

CA RICHA BADALIA (Expert)
Follow

14 December 2011 No, it is a capital expenditure hence disallowed.

CS Sandip Rahane (Expert)
Follow

14 December 2011 Chitti,

It is not allowed for deduction bse its relating to :
1) Stamp Duty
2) Capital Expenditure

etc.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Unanswered Queries

view all classess