Expenses relating to issue of Debentures

This query is : Resolved

Harsha (Querist)
Follow

01 July 2010 whether the expenses relating to issue of debentures(like professional fees,documentation fees) are preliminary expenses? company has not started its commercial operations ...project is under construction...company is a real estate company..pls give Section reference to Companies Act

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

01 July 2010 Section 35D(2)(c)(iv) of the Income tax Act,1961 says the referred expenditure is preliminary expenses. But Companies Act,1956 does not contain a separate section for preliminary expenses. Therefore, for accounting purpose, the company can follow Accounting Standard 26 and for Income tax purpose section 35D as well.

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

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

NISHANT SIPANI

RAGHUNATH KASIBHOTLA

siddhesh satardekar

Vimlesh kumar

Prakash Kaduluri

Subscribe Now

Expenses relating to issue of Debentures

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Senior Executive

CA Final

GST CONSULTANT

Accountant

Manager- Finance and Compliance