INCREASE IN AUTHORISED CAPITA;

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2011 WHERE WILL THE EXPENDITURE INCURRED ON INCREASE IN AUTHORISED SHARE CAPITAL BE SHOWN IN THE FINANCIAL STATEMENT OF AN EXISTING COMPANY????

IS THERE ANY DEDUCTION AVAILABLE FOR THE ABOVE MENTIONED EXPENDITURE OTHER THAN THAT MENTIONED U/S 35 D OF INCOME TAX ACT

Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2011 PLZ. REPLY EARLY

Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2011 PLZ. REPLY EARLY ITS URGENT

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 June 2011 Pl debit the amount in profit and loss account and disallow for the purpose of tax computation since not deductible under section 37(1) but deductible under section 35D of The Income tax Act,1961.

Citation:- Punjab State Industrial Development Corporation Ltd 225 ITR 792 (SC).

Message likes : 2 times

CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
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17 June 2011 Agreed with expert

Kumar

Kumar (Expert)
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18 June 2011
In Financial statements, it can be grouped under Rates and Taxes.

Querist : Anonymous

Querist : Anonymous (Querist)

18 June 2011 THANKS CHACKRAPANI SIR FOR VALUABLE REPLY

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