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/-
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