Is 35AD Mandatory to follow for Companies (cold storage) under Income tax 1961

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..... Hi, We had a company name cold storage and they are receiving govt grant for that business.The cold storage come under 35AD of IT act 1961 . now the problem is , Is it mandatory to prepare books .....

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..... of accounts for cold storage company under 35AD of act or can we follow on normal basis of accounting. eg: construction cost for the cold storage is 7,00,00,000.for normal companies this amount .....

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..... will be shown under the assets side of B\S but under 35AD this fixed asset amount will be allowed as expenditure in P L A|c. now is it mandatory for cold storage to take entire 7,00,00,000 as exp .....

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..... enditure in P l need not to disclose in B|S - Is 35AD Mandatory to follow for Companies (cold storage) under Income tax 1961 - Query Started By: - prasadu naladala Dated:- 11-7-2015 Income Tax - In .....

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..... come Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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