Preliminary expenditure
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 August 2010
A company was incorporated in 2005 and had incurred preliminary expenditure of Rs.50,000.This amount was shown in the balance sheet of that year as preliminary expenditure.The company had not commenced its business.It now wishes to file its returns under Company Law Settlement Scheme for the years 2006-2010.Can u please suggest how to write off this preliminary expenditure i.e.whether it can be written off fully in 2006 or propotionately each year?
Ajay Mishra
(Expert)
27 August 2010
Dear Friend
First of all preliminary expenses are shown in the first Board meeting after incorporation of Company. The Board may decide the amortization period and it will be shown in Balance Sheet under Miscellaneous Expenses Head and also shown in Noted to Accounts.
Regards
CS Ajay Mishra
First of all preliminary expenses are shown in the first Board meeting after incorporation of Company. The Board may decide the amortization period and it will be shown in Balance Sheet under Miscellaneous Expenses Head and also shown in Noted to Accounts.
Regards
CS Ajay Mishra
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation Error – Mandatory Fields
- GSTR9 Annual Return
- GST ITC as per notification 12/2023- central tax
- Rent agreement of House of deceased person
- Form 144 TDS Return Validation error
- Capital Gains Tax on Inherited Mutual Fund
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
