Menu
Consequences of income tax & companies act
Dear Team,
What is the treatment for assets purchased Prior to Incorporation. Assets are purchased by Promotor apart from his share capital. Assets are on the name of Promotor and the payment is done through his personal bank account. After incroporation company paid the amount to promotor. What is the treatment for the assets purchased ?
Sec 35 of income tax is silent in this regards ???
Replies (1)
| Originally posted by : vamsi | ||
 |
Dear Team, What is the treatment for assets purchased Prior to Incorporation. Assets are purchased by Promotor apart from his share capital. Assets are on the name of Promotor and the payment is done through his personal bank account. After incroporation company paid the amount to promotor. What is the treatment for the assets purchased ? Sec 35 of income tax is silent in this regards ??? |
 |
Recent Threads
- Time allowed to buy another asset
- ITR not processed for the FY 2024-25
- Gift of money to my wife.
- Tax Audit If you show Loss
- GST Tax invoice Value Rs..234000
- Can I claim benefit under 54F if I sell my equity
- Income tax refund 25/26
- Who is responsible for paying GST Liability (If th
- Excess Payment on RCM
- AOC4 auto population of previous year data
Related Threads
CAclubindia
