banner_ad

About preliminary expenses

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
30 November 2014 Dear Sir,
What is the treatment of preliminary expenses.My query is Preliminary expenses incurred in C.Y. Rs. 15000. As per Companies Act 2013 all Preliminary Expenses should be in C.y. No preliminary expenses should be carry forworded.
But as per Income tax Act Preliminary expenses should be allowable in 5 Yrs.
Then what is treatment of disallowable expenses.
Profile Image

CA Kumar Mukesh

Profile Image

CA Kumar Mukesh (Expert)
30 November 2014 As per section 35D of Income Tax Assessee has claim preliminary expenses in 5 years i.e. 20% for year.

Further, the aggregate of total preliminary expenses cannot exceeds 5% of total cost of the project/capital
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details