Deductible Expenses Prior to formation of Partnership

aman gupt (FPS) (49 Points)

06 February 2011  

Hi All,

Which all expenses can be claimed for deduction in the previous year if a firm became evidenced by an instrument after half year. i.e. to say, a firm started its business on 1-4-2010 without any Partnership Deed in writing. Firm got itself a deed in the month of Dec 2010 to get PAN.

Which income and expenditure will get reported in the return for the previous year?

Kindly provide any information that you may have.

Aman