Preliminary Expenses

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GShankar (Querist)
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24 January 2009 1)
Expenses incurred before incorporation in relation purchase of land and its related expenses-payment of salries to employees and payment to consultants for drawings in relation to construction of building.

2) What are the expenses which need to be clasidied as Preliminary expenses.Does it include payment made to conlutants for design and drawings for construction of building.

CA. B.SRINIVASULU

CA. B.SRINIVASULU (Expert)
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24 January 2009 Expenses such as ROC fees, company formation fees, preliminery review of company will come in PReliminery expenses.

Expenses related to purchase of land and its related expenses has to be capitalised to concerned fixed asset account.

GShankar

GShankar (Querist)
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28 January 2009 Thank You Sir

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