Tax deduction
This query is : Resolved
Amol S Joglekar
(Expert)
20 November 2012
what is the issue? Which is REVENUE? Please elaborate.
20 November 2012
If assessee has incurred an education expenditure , for upgrading the knowledge which will help him in his new project ...what will be nature of that expenditure? capital or revenue? y? can it be allowed as an expenditure u/s 37?
Amol S Joglekar
(Expert)
20 November 2012
Generally.... revenue expenditure. No need to classify the same under CAPITAL EXPENDITURE. (Some people treat it as deferred revenue, and hence i used the word GENERALLY) It will depend upon the facts and circumstances of each and individual case.
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