Guidelines for approval under proviso to clause (a) of sub-section (2) to concerns carrying out work in connection with preparation of feasibility/project report, etc., for the purposes of amortisation of preliminary expenses

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... proviso to clause (a) of sub-section (2) to concerns carrying out work in connection with preparation of feasibility/project report, etc., for the purposes of amortisation of preliminary expenses 1. Section 35D provides for the amortisation of certain preliminary expenses incurred by an Indian company or a resident assessee, other than a company, before the commencement of business or in connecti .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... et survey or any other survey necessary for the business of the assessee; and (iv) engineering services relating to the business of the assessee. These items of expenditure will qualify for amortisation where the work, in connection with the preparation of the feasibility report or the project report or the conducting of the market survey or other survey or the engineering services, is carried ou .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ed only in respect of such services offered by the foreign concerns which are not available with Indian concerns. (3) The applicant must have been working in the field of consultancy services, at least for one year before the application is made and must have received professional fees exceeding Rs. 10,000 from at least one party in any year. (4) Approval under section 35D will be granted only t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... services rendered (vi) Designation of the Income-tax Officer having jurisdiction for assessment purpose and Permanent Account Number 2. In case the applicant is— (i) a firm or a company, the names of the partners/directors along with their academic qualifications may be furnished (ii) an individual, his educational qualifications may be given 3. Details of the lines in which the concern ha .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... (ii) Names of the Departments/Ministeries of the Government of India who have granted approval. Copies of the letters of approval may be attached 6. Any other information which the applicant considers relevant The above information is correct and complete to the best of my knowledge and belief. I am the person authorised to sign the return of income on behalf of the applicant under the provision .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X