Amortisation of certain Preliminary Expenses - Section 35D

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..... ness, or (ii) after the commencement of business in connection with extension of an undertaking or setting up a new unit. Amount Period of Deduction: From 01.04.1998:- 1/5th of qualifying expenditure for each of the 5 successive years beginning with the previous year of commencement or extension of business or the new unit commences production or operation as the case may be. Upto 31.03.1998:- 1/1 .....

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..... s on the last day of the year in which the business commences. In case of extension of business or setting up a new unit the fixed assets only in relation to such extension or new unit is taken as cost of project. Meaning of Capital Employed It means aggregate of the Issued share capital, debentures and long term borrowing as on the last day of the year in which the business commences. In case of .....

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..... ement of the prospectus. [ Section 35(2) ] w.e.f. 01.04.2024 The assessee shall furnish a statement in Form No. 3AF for expenditure specified in this clause (a) of Section 35D(2) (i.e. above i, ii, iii ), such form shall be furnished one month prior to the due date for furnishing the return of income as specified under section 139(1) . [ Proviso of section 35(2) read with Rule 6ABBA ] If deduction .....

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..... income [ Section 35D(4) ] Unamortized expenses in case of a Amalgamation or Demerger In the event, the deduction in respect of previous year in which the amalgamation or demerger takes place and the following previous year within the 5 year, will be allowed to the amalgamation company or resulting company and not to the amalgamating or demerged company [ Section 35(5A) ] Expenditure for raising c .....

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..... 7. Vs Sirhind Steel Ltd. 2005 (9) TMI 218 - ITAT Ahmedabad-D. 3. Premium collected by an assessee company on subscribed share capital is not capital employed in business company within the meaning of section 35D. M/S Berger Paints India Ltd. Vs. C.I.T., Delhi 2017 (3) TMI 1531 - SC. - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management India - taxmana .....

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