3 people(foreigners) want to set-up a pvt ltd company to start a micro-brewery in India. Before setting up the business and before incorporation of the company, they visit India and roam all over India for survey purpose. They incur air travel, road travel, hotels, restaurant expenses etc. Now, can they claim this expenditure once they incorporate the company? If yes, under which section in the Income Tax Act?
And whether these will be called:
1) Preliminary Exps
2) Pre-operative Exps
3) Pre-incorporation Exps