preliminary expenses
This query is : Resolved
27 February 2008
treatment of preliminary expenses as per Companies Act,1956 and Income Tax Act, 1961
27 February 2008
treatment of preliminary expenses as per Companies Act,1956 and Income Tax Act, 1961
S.Srinivasaraghavan
(Expert)
27 February 2008
Already answered. The question has been repeated
27 February 2008
ALREADY ANSWERED
27 February 2008
can all the preliminary expenses be written off in the first year itself as per Companies Act, 1956
27 February 2008
can all the preliminary expenses be written off in the first year itself as per Companies Act, 1956
27 February 2008
as per tax laws :- 5 years u/s 35D
co law :- as per management.
co law :- as per management.
CA. GOPAL SONIKA
(Expert)
08 March 2008
The I-T Act provides for amortisation of preliminary expenses. Section 35 D specifies the expenditure to be included in preliminary expenditure, which under the I-T Act is allowable for all types of assesses. Conceptually, this is different from preliminary expenses under company law.
A company can as well write off its preliminary expenses in the same year under Company Law
A company can as well write off its preliminary expenses in the same year under Company Law
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