Company law
This query is : Resolved
17 June 2010
There is a company which was incorporated in the month of december and it was incurring expenses for its business since August in the name of its partnership. can we show expenses of earlier periods in the books of company?how? do we require any resolutions or what?
20 June 2010
Prior to incorporation of company, expenditure incurred should either be capitalised or to be shown as Preliminary Expenses. Preliminary Expenses can be amortized U/s 35D. A resolution in the board meeting should be passed.
20 June 2010
thanx
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