Whether deductable expenditure as per income tax act,1961
This query is : Resolved
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
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
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- Requirement under FEMA &RBI
- CLOSING STOCK QUERY
- CASH GIFT FROM BLOOD RELATIVE
- Query regarding reporting of exempt foreign remuneration in ITR
- ITC BENEFIT ON BROKRAGE PAID
- Sale of Mutual Funds In Diffirent Financial Years
- Itr processing refund
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Error in uploading Form 10BD
- REGARDING ITR FILING QUESTION
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
