Exps incurred before incorporation: can exps be claimed?
This query is : Resolved
04 June 2012
Hello,
3 foreigners planning to set-up a restaurant in India travel all over India for some reasearch. They have incurred various exps like air travel, road travel, hotel exps etc. However, they haven't incorporated a Pvt Ltd Co. yet for their purpose. Is there any chance they can claim set-off of these expenses to their future taxable profits under Income Tax Act after they set-up their Pvt Ltd Co.?
3 foreigners planning to set-up a restaurant in India travel all over India for some reasearch. They have incurred various exps like air travel, road travel, hotel exps etc. However, they haven't incorporated a Pvt Ltd Co. yet for their purpose. Is there any chance they can claim set-off of these expenses to their future taxable profits under Income Tax Act after they set-up their Pvt Ltd Co.?
05 June 2012
In other words, can an Indian company with only foreign directors and foreign share holders enjoy the benefits of Sec 35D?
19 July 2023
"Sorry, I am not a featured member."
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
For featured members contact....
https://www.caclubindia.com/catalogue/featured.asp
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GENERATE E-INOICE IF TURNOVER EXCEED 5 CR FROM YODAY
- Fixed asset entry in tally
- TDS 194IB FY 2025-2026
- Taxability in hand of employee
- Updated return invalid tax paid status
- GST procedure on conversion of Partnership Firm to Pvt Ltd
- MAINTENANCE CHARGES AND LIFT CHARGES
- Section 87a rebate for capital gain
- Guidance Required for Opening Bank Account for Russian Company’s Branch Office in India
- Re-entering the work force
- Regarding change in correspondence address in SSP portal
- Regarding Advance Tax not claimed in the Return of Income for A.Y. 2025-26
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
- Clarification Required on GST Rate & HSN Classification – Millet-Based Probiotic Drink
- TDS Return filing if only have 15G /15H deductions and no other payments
- 80G deduction eligibility
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani -
IDT LIVE Exam Oriented Batch | May 2026, Sept 2026 & Jan 2027
CA Arpita Tulsyan
CAclubindia
