pre-operative

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Hemant Mehta (Querist)
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22 September 2010 Dear Experts,

Audit fees paid before starting the business and after incorporation of company, is it a pre-operative expense?

What will be treatment.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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22 September 2010 Preoperative expense is a wider term, the
expenses incurred after company formation but prior to commercial production, which includs the normal expenses such as salary
travelling, rent etc. Looking in that angle,audit fee can be classified under pre operative expenses.

NISHIT A. DOSHI

NISHIT A. DOSHI (Expert)
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24 September 2010 Hi,

Pre operative expenses should be written off to the profit and loss account from the year in which company starts its commercial operations.

REGARDS,
C.A.NISHIT DOSHI

Hemant Mehta

Hemant Mehta (Querist)
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24 September 2010 Thanks Sir

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