Pre-operative expenses
This query is : Resolved
26 November 2010
Can anybody please explain the treatment of pre-operative expenses in accounts and the amortization procedure for the same
26 November 2010
In the books of accounts u have both options to write it off over a period of five years or write it off in one year itself.
All listed companies write it off in the year in which they are incurred and many non listed companies write it off over a period of five years.
For listed companies it is compulsory to write it off in the year in which they are incurred.
DTA can be made on the difference of written off as per books and allowable as per I. T. as in IT the same is allowable over a period of 5 years.
All listed companies write it off in the year in which they are incurred and many non listed companies write it off over a period of five years.
For listed companies it is compulsory to write it off in the year in which they are incurred.
DTA can be made on the difference of written off as per books and allowable as per I. T. as in IT the same is allowable over a period of 5 years.
27 November 2010
Can we capitalize the pre-operative expenses similar to preliminary expenses to be written off in future years not exceeding 10 years as specified in AS 26.
27 November 2010
write off in 5 years.
29 November 2010
Thanks. Please give me tha answer for this query also.
Would it be proper to write off the preliminary expenses and the pre-operative expenses after the company starts operations.
Till then can we capitalize all expenses relating to operations as pre-operative expenses
Would it be proper to write off the preliminary expenses and the pre-operative expenses after the company starts operations.
Till then can we capitalize all expenses relating to operations as pre-operative expenses
29 November 2010
It could be ur accounting policy but u can write off every years expenses to P &L a/c except if u are making a factory or something.
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
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Internship/Academic shown in Salary Pay Slip of a Doctor
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- TDS Challan Code
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
