Pre-operative expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 September 2011
Dear Experts,
A company was incorporated in July 2010 and all incorporation expenses are shown as preliminary expenses and till 31st march 2011 the company could not start its business. Can all expenses like bank charges, Audit fees and conveyance etc. can be transferred to pre-operative expenses. I do not want to show these expenses in profit and loss account and want to transfer these expenses into preoperative expenses. can I do this. As there will be no loss in the profit and loss account.
Thanks
A company was incorporated in July 2010 and all incorporation expenses are shown as preliminary expenses and till 31st march 2011 the company could not start its business. Can all expenses like bank charges, Audit fees and conveyance etc. can be transferred to pre-operative expenses. I do not want to show these expenses in profit and loss account and want to transfer these expenses into preoperative expenses. can I do this. As there will be no loss in the profit and loss account.
Thanks
17 September 2011
Yes, you can transfer to per-operative expenses till the time of first invoice is raised.
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17 September 2011
Agree with Ca. Hariji
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