Pre operative expenses / income
This query is : Open
09 September 2011
A company has incorporated in the year 2008 for Marble Trading but business is not yet started. It have a land from which it has earned income approx Rs. 30000/- also Interest received on deposit with Bank. Wheteher such incomes will adjusted with Pre operative expenses or other wise. Plz suggest its treatment in Balance Sheet and Income tax
09 September 2011
As per my view, you can consider these income under income from other sources. while the Preoperative Expenses Are treated As A defeerred Revenue Expenditure And Amortised Over A Period Of 5-7 Years. The Tax Treatment Is As Done For Other Deferred Expenditure And The Profit & Loss A/C Is Debited For The Apportioned Annual Amount Every Year
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Sales return eway bill
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Free lancer income
- STCG FOR GOLD ETFs
- Small dealers gst returns filing
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- 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
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
