Professional expenses for raising capital
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 July 2013
Hi,
What is the provision regarding professional expenses incurred in raising capital for a private company? -Whether it has to be deferred or has to be treated as a normal expense or to be capitalized ?
Thanks & Regards
Azeez
What is the provision regarding professional expenses incurred in raising capital for a private company? -Whether it has to be deferred or has to be treated as a normal expense or to be capitalized ?
Thanks & Regards
Azeez
03 July 2013
If you follow Accounting Standards, then there is no requirement to defer any expenditure which does not qualify for recognition as 'Asset'.
If you do not follow AS, then you may do whatever you like, from taxation point of view, check section 35D of Income Tax.
If you do not follow AS, then you may do whatever you like, from taxation point of view, check section 35D of Income Tax.
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
- CAPITAL GAIN BASE ON NOTIFICATION
- NRI starting business in India
- Difference between Date of Payment and Date of Deduction?
- ITDS U/S.194T of Firm
- Unregistered suppliers utility
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- Capital gain on sale and purchase of plot
- FORM 141 SDV query
- Invertaded duty struture
- How to pay remaining amount of TDS after due date?
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
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
