tax

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dinesh (Querist)
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31 August 2009 1. WHAT IS THE difference b/w sec35D & sec35DD , as both talks about amortisation of prel. exp(sec35D also include what sec35DD includes),so why sec35DD has been made?

2. how to pronunce(define each word) case law?

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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31 August 2009 Amortisation of expenditure in case of amalgamation or demerger.

35DD. (1) Where an assessee, being an Indian company, incurs any expenditure, on or after the 1st day of April, 1999, wholly and exclusively for the purposes of amalgamation or demerger of an undertaking, the assessee shall be allowed a deduction of an amount equal to one-fifth of such expenditure for each of the five successive previous years beginning with the previous year in which the amalgamation or demerger takes place.

(2) No deduction shall be allowed in respect of the expenditure mentioned in sub-section (1) under any other provision of this Act.]

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