Comiision on bank guarantee for importing fixed asset..
This query is : Resolved
04 August 2012
Sir , I wanted to know the tax treatment for commission on bank guarantee which was given for importing of plant and machinery...whether capital or of revenue nature...
04 August 2012
It is a Capital Expenditure.
.
If the person is dealing in Machinery items then it is a revenue expenditure.
.
.
If the person is dealing in Machinery items then it is a revenue expenditure.
.
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