Whether roc filing fees are deductible for income tax

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P A RUPESH RAMNATH (Querist)
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03 August 2009 Whether roc filing fees are deductible for income tax i.e increase in authorised capital, form 20B, 23ac fees etc

chetan soni

chetan soni (Expert)
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03 August 2009 Yes, this will be covered under section 37 as general deduction. Ledger head may be filing fees.

Ankur Garg

Ankur Garg (Expert)
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03 August 2009 YES

P A RUPESH RAMNATH

P A RUPESH RAMNATH (Querist)
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03 August 2009 Whether there is any distinction between capital & revenue expenditure in respect of roc filing fees. i.e. Fees paid for increase in Authorised share capital

P A RUPESH RAMNATH

P A RUPESH RAMNATH (Querist)
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03 August 2009 Whether there is any distinction between capital & revenue expenditure in respect of roc filing fees. i.e. Fees paid for increase in Authorised share capital

Vishal D Shah

Vishal D Shah (Expert)
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24 November 2011 The expenditure incurred in connection with the raising of the authorised capital was held to be capital expenditure by the Hon AP High Court in Vazirsultan Tobacco Co ltd V CIT (1988) 174 I 689(AP) which was approved by the Hon Supreme court in Punjab state Industri Development Corporation V CIT (1997)225 ITR 792(SC).

Whether it shall be allowed ?