Capitalisation of ROC expenses
This query is : Resolved
15 July 2011
Can the Company Capitalise the Roc fees paid to increase the Authorised Share Capital? Is it a Capital Expenditure?
15 July 2011
Yes, IT WILL BE TREATED CAPITAL EXPENDITURE AND SHOWN AS MISC ASSETS BUT NOT WRITTEN OFF AS PER COMPANIES ACT,
IF YOU TREATED ITS REVENUE EXPENDITURE AS PER COMPANIES CAT THEN SAME SHALL BE DISALLOWED AS PER INCOME TAX ACT.
IF YOU TREATED ITS REVENUE EXPENDITURE AS PER COMPANIES CAT THEN SAME SHALL BE DISALLOWED AS PER INCOME TAX ACT.
15 July 2011
Charge to profit and loss account for accounting purpose and disallow for income tax purpose.
15 July 2011
Agree with BC.
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