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Discussion > Income Tax > Tax queries >

Preliminary expenses

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[ Scorecard : 25] 		Posted On 09 July 2012 at 09:45 Report Abuse

Will the rent paid by company before its incorporation, can be accounted as Preliminary expenses?

praveen
Chartered Accountant

[ Scorecard : 4858] 		Posted On 09 July 2012 at 11:15

I think it should be allowed u/s35D

d) Such other items of expenditure (not being expenditure eligible for any allowance or deduction under any other provision of this Act) as may be prescribed.



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KRISHNAPRASAD IYER
B.Com , CA Final

[ Scorecard : 541] 		Posted On 09 July 2012 at 15:49

Yes, it can be treated as preliminary expenditure

shubham jain
C.A. final student

[ Scorecard : 32] 		Posted On 10 July 2012 at 16:22

Mr Devdatta,

it can be considered as preliminary exp. because any exp incured till the formation of company shall be considered as preliminary exp



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