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Expenses before incorportion

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24 December 2012 One of my client is a partnership firm, which has been incorporated on 16-04-2012. they have incurred an amount of around 60000/-for advertisement and marketing expenses on march 2012, can we account that amount in the month of April 2012. or else give some idea regarding the issue
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CA Sourabh Agarwal

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CA Sourabh Agarwal (Expert)
24 December 2012 There is no such provision like in case of Companies with regard to Pre -Incorporation profits. However same can be accounted in case the billing is in the name of firm which is a remote possibility.
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