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pre-operative expenses or loss

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(Querist)
12 June 2009 A pvt. co. was regd 2 years ago.No work till is carried on by the co. Also in the next 2-3 years it is going to do nothing. The only expenditure incurred are legal fee, audit fee and ROC filing Fee. I want to know whether these are treated as pre-operative expenses or this will be treated as loss and a return of loss is to be filed. I want to have a clear picture of the situation. Can anyone make it clear to me,if possible please.
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Guest

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Guest (Expert)
12 June 2009 Hello Seema,
This expenses not treated as Pre-operative expenses; You should to charges these expenses as under the head of Profit & Loss account and submit the return accordingly as on the loss basis. Further, you can set off the losses in future Financial periods.
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seema singla

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seema singla (Querist)
12 June 2009 Thanks for the answer sir,
I have one problem that last year return has been filed by indicating these exps as pre-oper. exps and not by loss. what can be done now. Please suggest
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Rajesh

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Rajesh (Expert)
12 June 2009 these are the pre operating expeses but tell me about that when the company stat the working

these will be treated as pre operating exp
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
13 June 2009 I agree with Mr.Rajesh.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
13 June 2009 I agree with Mr.Rajesh.
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