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
IF YES WHETHER IT IS 100% OR 20% ON TRACKS OF SECTION 35D?
IF NOW WHY?
PLZ CLEARLY STATE LEGAL PROVISIONS
THANKS IN ADVANCE
CA Chaitanya
(Expert)
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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