Preliminary expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 September 2012
can we deduct preliminary expenses (shown as mis assets) from the reserves & surpuls as per the rev sch VI ?
27 September 2012
No.
Either write off fully through profit and loss statement OR
Show as 'unamortised expenditure' under the line item 'non current assets' in the balance sheet.
Either write off fully through profit and loss statement OR
Show as 'unamortised expenditure' under the line item 'non current assets' in the balance sheet.
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