Hi
Amount paid for increase in authorized capital (for which we have got GAR-7 challan for filing form 5 & 23) should be considered as capital expentiture or revenue expenditure?
Also explain under which group it should be accounted??
please guide.
Menu
Capital expense or revenue expense
Replies (1)
As decided in Punjab State Industrial Development Corporation Ltd. (SC). It is not a revenue exp. And is not deductible. You can charge it from profit and loss account for accounting purpose but in computation of taxable income, it ll be disallowed.
Recent Threads
- Upload error for ITR 2 filing after validation
- CCI Forum gets fresh Look ! Share your views
- Presumptive taxation 44AD BLOCK PERIOD
- FORM 27Q FILING
- TDS for Advance Maintenance
- GST on product purchased at MRP
- TDS on Joining Bonus
- How to complete form10E Table details for the year
- How to submit ITR for old F&O losses
- Can an Software Engineer be termed as a workman an
Related Threads
CAclubindia
