Preliminary exp.
This query is : Resolved
CA Pawan kumar mishra
(Querist)
25 December 2011
Can preliminary exp cn adjuest in profit n loss a/c when its incurred. Or showing and carried forward as miscellanous exp.
26 December 2011
As per AS 26 preliminery expenses should be written off in the year in which they are incurred.
CA Pawan kumar mishra
(Querist)
26 December 2011
Bt as per sch. VI its cn shown under misc. Exp and cn b carried forward
CA Pawan kumar mishra
(Querist)
26 December 2011
Plz provide me sugestion
CA Deepak S
(Expert)
28 December 2011
You should written off the preliminary expenses in the year in which it is incurred.
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