Section 35D of Income Tax Act provides for Amortisation of preliminary expenses. As per Section 35D, any capital expenditure did before the commencement of operation of specified business then such expenditure is allowable as a deduction under the income tax in 5 equal annual installments subject to the fulfilment of different conditions given under the […]
Any registered person can avail credit of Input tax paid on the inward supply of goods or services or both which is used or intended to be used in the course or furtherance of business. He is in possession of tax invoice or any other specified tax paying document.
