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?
Rupesh Jain
(Expert)
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
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
