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treatment of expenditure

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(Querist)
27 June 2010 my client paid 20000 twice in cash as legal expenditure to increase authorized capital from 1.4 to 1.6 crore
what will be its treatment in income tax and company act
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CA G. SURYANARAYANAN

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CA G. SURYANARAYANAN (Expert)
28 June 2010 Is it towards filing fee to ROC or professional fees? It is not clear from your question.

CA G. SURYANARAYANAN
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aneel

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aneel (Querist)
29 June 2010 Yes sir it is fees to roc for form 5
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CA G. SURYANARAYANAN

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CA G. SURYANARAYANAN (Expert)
30 June 2010 Since the expenditure is incurred towards payment to Registrar of Companies, it is a payment to Government and is covered by Rule 6DD read with section 40A(3) of the Incometax Act. If the payment is made on different dates, it is still safe since Sec. 40A(3) speaks about payment exceeding Rs.20000/- on single day to a person.

CA G. SURYANARAYANAN
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aneel

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aneel (Querist)
01 July 2010 thanku sir
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