THIS EXPENSE ALLOWED OR NOT?

This query is : Resolved 

04 January 2009 IS STAMP DUTY IN CONNECTION WITH ISSUANCE OF DEBENTURES ALLOWED OR NOT?

IF YES WHETHER IT IS 100% OR 20% ON TRACKS OF SECTION 35D?

IF NOW WHY?

PLZ CLEARLY STATE LEGAL PROVISIONS

THANKS IN ADVANCE

04 January 2009 in my opinion it is fully allowable u/s 37(1)

04 January 2009 In such a case , it is allowable in 5 equal installmemts (i.e 20% in each year). (Refer Section 35D(2) for the list of preliminary expenditures)

05 January 2009 The said expenditure is covered u/s 35D(2).


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