New dimension to revenue expenses - Extension of trading (or other) business for manufacture of traded products- a possible way to save tax because many expenses yielding enduring benefit can be allowed.

New dimension to revenue expenses - Extension of trading (or other) business for manufacture of traded products- a possible way to save tax because many expenses yielding enduring benefit can be allowed. https://www.taxtmi.com/article/detailed?id=133 Expenditure for establishing a manufacturing facility can be treated as revenue expenditure where the manufacturing activity is an extension of the trader's existing business, evidenced by unity of control, interlacing of activities and integrated finances; in such cases preliminary and pre operative costs related to securing supply, quality and market exploitation may be expensed for tax purposes, subject to reconciliation with accounting and statutory capitalisation and depreciation rules. en-us Tue, 12 Aug 2008 00:00:00 +0530 Sat, 07 Mar 2009 12:38:13 +0530 TaxTMI RSS Generator New dimension to revenue expenses - Extension of trading (or other) business for manufacture of traded products- a possible way to save tax because many expenses yielding enduring benefit can be allowed. https://www.taxtmi.com/article/detailed?id=133 Expenditure for establishing a manufacturing facility can be treated as revenue expenditure where the manufacturing activity is an extension of the trader's existing business, evidenced by unity of control, interlacing of activities and integrated finances; in such cases preliminary and pre operative costs related to securing supply, quality and market exploitation may be expensed for tax purposes, subject to reconciliation with accounting and statutory capitalisation and depreciation rules. Articles Income Tax Tue, 12 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=133