Karnataka High Court treats discount on issue of debentures as a deductible expenditure to be proportionately claimed over the period of redemption.

The Hon’ble Karnataka High Court in its recent ruling1 has held that discount given at the time of issuance of debentures which are to be redeemed in stages over a period of five years shall be allowed as a deduction on a proportionate basis which is to be spread across the period of redemption of such debentures.
RBSA Advisors - Thumbanil Discount on Issue of Debentures Website Inside 2

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