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 Topics :
- DRC-03 interest paid under CGST/SGST instead of IG
- GSTR1 amendment Bulk bills
- Capital Gain on Sale of Gold
- GST SALES RETURN MISSING 2025-26 FY
- Enquiry on FAST-DS system generated email
- Capital gain on sale of agriculture land
- Demand from TRACES
- FY 2025-26 ITC CLAIM DUE DATE
- 96084000 and 48202000 HSN code ka Tax Rate kya hai
- Clarifications for intra day transactions
Related Topics :
CAclubindia
