Share |
 

Sec. 35 D : Amortization of Certain Preliminary Exp.

 

Where an assessee, being an Indian company who is resident in India, incurs,  any  Preliminary expenditure can claim deduction in 5 equal installment  over a period of 5 years beginning with the previous year in which the business commence or the previous year in which the extension of the industrial undertaking is completed or the new industrial unit is commences production or operation. Do remember a foreign is not eligible for deduction u/s 35D even if resident.

The Preliminary Expenses means any Expenditure in connection with : -

(i)         preparation of feasibility report;

(ii)        preparation of project report;

(iii)       conducting market survey or any other survey necessary for the business of the assessee;

(iv)       engineering services relating to the business of the assessee:

 
Get Updated ....
Tally.ERP 9 Book
 
Guide & FAQ on Tax Knowledgebase @ Taxation Income Tax @ Glance HUF - Formation, Planning & Taxation
Charitable & Religious TRUST NRI (Tax Planning,Saving,Investemnt) Budget 2017-2018 GST (FAQ, Law, Act. Rules, Schedule, Enrollment)

Disclaimer:
All efforts are made to keep the content of this site correct and up-to-date. But, this site does not make any claim regarding the information provided on its pages as correct and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any manner whatsoever for such loss or damage.

The visitors may click here to visit the web site of Income Tax Department for resolving their doubts or for clarifications