FORM 23ACA
This query is : Resolved
04 November 2008
A pvt. ltd co. having no business transactions incurred some pre-operative exps like audit fee, legal fee and bank charges. My query is that whether these expenses will appear in Form 23ACA or not.
04 November 2008
No business transactions since when --Pl clarify.
04 November 2008
The co. was incorporated on 30/08/2005.Only statutory requirements are followed. No business transaction till now.So these pre-operative expenses should appear in Form 23ACA or not?
Thanx
Thanx
04 November 2008
No because Form 23 ACA is profit and loss a/c. The company need not prepare profit and loss a/c in the given situation. The said expenses may be suitably grouped in an a/c viz.,Pre production exps, or project development exps etc.,depending on the future plan of the company, and may be carried to balance sheet.
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