TaxTMI 
TaxTMI 
Is 35AD Mandatory to follow for Companies (cold storage) under Income tax 1961
X X X X Extracts X X X X
X X X X Extracts X X X X
....s 35AD Mandatory to follow for Companies (cold storage) under Income tax 1961<br> Query (Issue) Started By: - prasadu naladala Dated:- 11-7-2015 Income Tax<br>Income Tax<br>Hi, We had a company name ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....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 of accounts for cold storage com....
X X X X Extracts X X X X
X X X X Extracts X X X X
....pany 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 will be shown under the assets side o....
X X X X Extracts X X X X
X X X X Extracts X X X X
....f 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 expenditure in P&l need not to disclose in B....
X X X X Extracts X X X X
X X X X Extracts X X X X
....|S<br> Discussion Forum - Knowledge Sharing ....