Exp on issue of debenture
This query is : Resolved
03 September 2012
CAN ANY ONE TELL ME WHETHER EXPENSES ON ISSUE OF DEBENTURE TO BE TREATED AS CAPITAL EXP OR REVENUE EXP IN BOOKS OF ACCOUNT
03 September 2012
In Some Cases by Judiciary, It Was Held That It Should be Treated as revenue Expenses Only.
Apart From This, As Per My Perception, You Can Show It as Cost of Project, & Can Claim Exp u/s 35D & Claim Deduction 1/5th Every Year.
Apart From This, As Per My Perception, You Can Show It as Cost of Project, & Can Claim Exp u/s 35D & Claim Deduction 1/5th Every Year.
03 September 2012
Debenture is not a part of capital of a company. It is a debt. So the expenses relating to it are of revenue nature and thus fully allowed.This has also been allowed in case of India Cements Ltd. Vs CIT (SC).
03 September 2012
Agreed in some cases it has been taken as revenue and in some as capital.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- Exiting partner in partnership firm in gst portal
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Banking Related Issue
- Difff in ais receipts and gst turnover
- ITR-Capital Gain
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
