project cost of private limited
This query is : Resolved
24 June 2013
a company has been formed i june 2012 ..
till 31st march 2013 compay has been incurred the project cost 1000000 and admin. cost is 2500000 ,so what is the treatment in financial statement??????
till 31st march 2013 compay has been incurred the project cost 1000000 and admin. cost is 2500000 ,so what is the treatment in financial statement??????
24 June 2013
What is the project nature & purpose?
24 June 2013
nature is the site development
and the purpose i.s promotional
and the purpose i.s promotional
24 June 2013
nature is the site development
and the purpose i.s promotional
and there is no revenue till date
and the purpose i.s promotional
and there is no revenue till date
24 June 2013
In case the project is nature of create any asset, you can keep the balance under Capital work in progress
Incase project expenses unable to construct assets and nature of revenue expenses then you debit to p&l a/c
Incase project expenses unable to construct assets and nature of revenue expenses then you debit to p&l a/c
25 June 2013
then we carry forward losses of current year to next year...
also section14A is attracted..in case
so then what is the treatment
also section14A is attracted..in case
so then what is the treatment
25 June 2013
Reply which I have posted for accounting treatment, Income tax provision will be apply as per the act.
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