Roc filling fees for increase in authorized capital
This query is : Resolved
10 July 2013
one of our clients has paid ROC filling fees to increase its authorized capital. please guide if foll. accounting treatment is Ok.
Preliminary Exp Dr
to Bank
please also guide if the expense is allowable under Section 35D of Income Tax Act
Preliminary Exp Dr
to Bank
please also guide if the expense is allowable under Section 35D of Income Tax Act
Ganeshbabu K
(Expert)
26 August 2013
You are wrong
Suggested entry would be
Dr.Rates & Taxes A/c
Cr.To Bank A/c
As per income tax act 1961,,it is considered as Revenue expenditure and it is allowed as expence
..
.
Citation: Deputy comissioner of income tax Vs M/s Hero motors ltd,,held fee paid to ROC is revenue expenditure
Suggested entry would be
Dr.Rates & Taxes A/c
Cr.To Bank A/c
As per income tax act 1961,,it is considered as Revenue expenditure and it is allowed as expence
..
.
Citation: Deputy comissioner of income tax Vs M/s Hero motors ltd,,held fee paid to ROC is revenue expenditure
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