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Amortisation of Preliminery Expenses

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27 November 2008 Plz. anybody explain:-

What is Amortisation of Preliminery Expenses u/s 35D?
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Reetika Goel

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Reetika Goel (Expert)
27 November 2008 If u have incurred any expenditure during incorporation of ur business or at the time of extension of ur business, then such expenditure is allowed to be amortised in 5 equal installments starting from the year in which u actually started ur business activities.

However, the total expenditure can't exceed 5% of the project cost.

For detail of expenditures covered u/s 35D, please refer some book.
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