banner_ad

preliminary expenses

This query is : Resolved 
Profile Image

Profile Image

(Querist)
19 August 2009 WE STARTED PVT. LIMITED COMPANY FOR COMPUTER SOFTWARE DEVELOPMENT ON 01/10/2007 FOR WHICH I HAD MADE EXPENSES FOR REGISTRATION OF COMPANY AND OTHER LEGAL EXPENSES FOR RS. 15000/- OUR AUTHORISED CAPITAL IS RS. 100000/- HOW MUCH WE CAN BOOK PRELIMINARY EXPENSES FOR THE YEAR 2007-08. WE THINK 5% OF THE AUTHORISED CAPITAL IN FIVE EQUAL INSTALLMENT.IN OUR POIT OF VIEW RS. 3000/- WIL BE DEDUCTED FOR THE YEAR 2007-08 . ARE WE RIGHT ?
Profile Image

UMA SHANKER SHARDA

Profile Image

UMA SHANKER SHARDA (Expert)
20 August 2009 Yes as per income tasx act, the preliminary expenses are allowable in five year but as per companies Act, you can w/off in 10 years.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
29 May 2026
Finance Head

Bhawar Sales Corporation

Chennai

Graduate (Any)

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
09 May 2026
Audit Manager

Kanna and Associates

Coimbatore

CA Inter

View Details
Company
29 May 2026
Accounts assistant

Shubh Consultancy

Mumbai

Graduate (Any)

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details