banner_ad

Whether deductable expenditure as per income tax act,1961

This query is : Resolved 
Profile Image

Profile Image

(Querist)
25 February 2013 guarantee given by Government of Maharashtra for issuing bond (debt)
against the same guarantee commission payable to Government of Maharashtra, subsequently same is paid by issuing equity shares. whether above expenditure is deductible or not as per Income Tax Act, 1961, if not give reason
Profile Image

CA PARAS BAFNA

Profile Image

CA PARAS BAFNA (Expert)
26 February 2013 In case the proceeds received from Bonds has been utilised for the purpose of a running business activity it can be claimed as deduction. In case the proceeds are being utilised for a project under completion the expenditure may be capitalised.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details