Amortisation of preliminary expenses: phased tax deduction for prescribed start-up and expansion costs subject to caps and conditions. Section 35D allows Indian companies and resident persons to amortise prescribed preliminary expenditures-such as feasibility and project reports, surveys, ... Summary
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Amortisation of preliminary expenses: phased tax deduction for prescribed start-up and expansion costs subject to caps and conditions.
Section 35D allows Indian companies and resident persons to amortise prescribed preliminary expenditures-such as feasibility and project reports, surveys, engineering services, legal and company formation charges-by claiming a phased deduction beginning with the year business commences or the new unit/extension starts, subject to prescribed caps linked to project cost or capital employed, audit and reporting requirements for non-corporates, and rules preserving treatment on amalgamation or demerger; amounts so deducted cannot be claimed under any other provision.
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