11 December 2010
When a company promote a subsidiary company and become 100% sharehoders in that subsidiary coampny, can it make preliminary expnses on behalf of the subsidiary comapny and calim the expenditure in his income tax return.
11 December 2010
The expenditure will be Preliminary Expenses of the Subsidiary Company. However, holding company may incur such expenditure on behalf of Subsidiary company for recovering the same after the board of subsidiary ratifies the same.