section 35D
This query is : Resolved
gaurav goyal
(Querist)
08 September 2009
Whether expenses on further issue of shares will be covered under this section and deduction of expenses will be allowed in 5 years. I have heard about any notification which says that exp. on further issue of share capital will not be allowed deduction they will be treated as capital exp. only. please refer me if u have some information about that.
Thanks
Gaurav Goyal
Thanks
Gaurav Goyal
Manoj Kumar Jain
(Expert)
09 September 2009
Expenes on further issue of share capital would be covered in Sec 35D and the same is eligible for deduction in 5 equal installments. There are case laws available to support this deduction
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