Share Issue exp. (i.e. ROC fees for increasing auth. capital

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vivek (Querist)
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06 January 2009 ROC Fees ( Form No. 2 & 5), shre certificate, franking charges, stamp duty on registration of shares- whether these exp.(In capital nature) can be charged from P & L or adjested from security premium A/c.

Pls. give the tax treatment also with specific sec. & case laws as soon as possible.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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06 January 2009 Fees paid to the ROC for enhancement of capital is capital expenditure not deductible u/s 37(1) but deductable u/s 35D of The Income Tax Act,1961. Citation is Punjab State Industrial Corporation Ltd 225 ITR 792 (sc)

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