Pre operating expens
This query is : Resolved
22 June 2013
i want to know that in f.y 2012-13 assessee incurred pre operting exp for developing software for.Is this expense is allowed for deduction where no income generated in this f.y.If the answer is yes then what section we will refer?
22 June 2013
YOU CAN TAKE INCOME ON ESTIMATE % BASIS OF SOFTWARE COMPLETION RECEIPTS.
FOR EXAMPLE SOFTWARE SALE PRICE rS. 100
% OF WORK COMPLETE 20%
THEN YOU TAKE RS. 20 AS INCOME AND EXP. AGAINT IT .
FOR EXAMPLE SOFTWARE SALE PRICE rS. 100
% OF WORK COMPLETE 20%
THEN YOU TAKE RS. 20 AS INCOME AND EXP. AGAINT IT .
22 June 2013
but how can you presume your cost for software that is Rs.100/-
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- FORM 26A APPLICABILITY
- Copyright software
- SFT Cash Deposit in Current Account
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
