Expenses like name change exp. of company in income tax?
This query is : Resolved
20 September 2013
Will the following expenses be allowable to be set off against business income:
1) Expenditure for formalities of increasing Authorized Share Capital.
2) Expenditure for formalities of Director Change.
3) Expenditure for formalities of name change of co.?
Please reply.
1) Expenditure for formalities of increasing Authorized Share Capital.
2) Expenditure for formalities of Director Change.
3) Expenditure for formalities of name change of co.?
Please reply.
20 September 2013
1)IT IS TREATED AS REVENUE EXPENDITURE AND ALLOWED AS A EXPENCE
CITATION : M/S HERO MOTORS LTD VS CIT (IT IS APPELETE TRIBUNAL JUDGEMENT
CITATION : M/S HERO MOTORS LTD VS CIT (IT IS APPELETE TRIBUNAL JUDGEMENT
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20 September 2013
2)IT IS PURELY BUSINESS EXPENSE,,
3)IN MY OPINION ALL FEES PAID TO ROC IS REVENUE EXPENCES,,REFER ABOVE CASE
3)IN MY OPINION ALL FEES PAID TO ROC IS REVENUE EXPENCES,,REFER ABOVE CASE
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21 September 2013
Sir,
The expenses in all the above three cases will also be including professional charges by a Chartered Accountant. Will these be allowed apart from ROC expenses?
Also, if total expense in all three cases will be allowed, will it be treated like preliminary expenses .i.e. some amount will be written off each year or entire amount will written off in the same year?
The expenses in all the above three cases will also be including professional charges by a Chartered Accountant. Will these be allowed apart from ROC expenses?
Also, if total expense in all three cases will be allowed, will it be treated like preliminary expenses .i.e. some amount will be written off each year or entire amount will written off in the same year?
21 September 2013
Sir,
Please refer this link also:
http://groups.yahoo.com/neo/groups/ICAI_CIRC_MEERUT_CA/conversations/topics/85613
Please refer this link also:
http://groups.yahoo.com/neo/groups/ICAI_CIRC_MEERUT_CA/conversations/topics/85613
21 September 2013
ALL ARE REVENUE EXPENCES ONLY
.
.
REFER BELOW
A VERY RECENT APPELENT TRIBUNAL DECISION
https://www.caclubindia.com/judiciary/fees-paid-to-the-roc-are-revenue-expenditure-2003.asp#.Uj04AsanrDU
27/05/2013...SO IN MY OPINION IT IS REVENUE EXPENCES ONLY
.
.
REFER BELOW
A VERY RECENT APPELENT TRIBUNAL DECISION
https://www.caclubindia.com/judiciary/fees-paid-to-the-roc-are-revenue-expenditure-2003.asp#.Uj04AsanrDU
27/05/2013...SO IN MY OPINION IT IS REVENUE EXPENCES ONLY
21 September 2013
ROC FEE PAID CAN BE EXPENCED TO RATES AND TAXES IN THE YEAR IN WHICH IT IS INCURRED AND AT THE SAME TIME PROFESSIONAL CHARGES OF CA CAN BE EXPENCED TO PROFESSIONAL AND CONSULTANCY CHARGES
21 September 2013
Thanks a tonne sir.
21 September 2013
Thank you sir
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