Roc filling fees for increase in authorized capital

This query is : Resolved

Malav (Querist)
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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

Ganeshbabu K

Ganeshbabu K (Expert)
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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

Malav

Malav (Querist)
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05 September 2013 thank you Mr Ganeshbabu

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