Hi,
Pls. let me know is there any changes for write off preliminary exp. Generally we write off preliminary exp. a certain period of time such as 5 or 10 years.
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 30 May 2015
It is written off in 5 years as per section 35D of Income Tax Act.
https://www.indiataxes.com/Information/incometax/contents/pgbp/allowdeductions/specificdud/specific_dud_8.htm
https://finhealthblog.wordpress.com/2013/08/13/how-to-amortize-preliminary-expenses-under-section-35d-of-the-income-tax/
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
