preliminary expenses

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ayesha

ayesha (Querist)
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27 February 2008 treatment of preliminary expenses as per Companies Act,1956 and Income Tax Act, 1961

ayesha

ayesha (Querist)
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27 February 2008 treatment of preliminary expenses as per Companies Act,1956 and Income Tax Act, 1961

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)
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27 February 2008 Already answered. The question has been repeated

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)
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27 February 2008 ALREADY ANSWERED

ayesha

ayesha (Querist)
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27 February 2008 can all the preliminary expenses be written off in the first year itself as per Companies Act, 1956

ayesha

ayesha (Querist)
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27 February 2008 can all the preliminary expenses be written off in the first year itself as per Companies Act, 1956

Jitender

Jitender (Expert)
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27 February 2008 as per tax laws :- 5 years u/s 35D
co law :- as per management.

CA. GOPAL SONIKA

CA. GOPAL SONIKA (Expert)
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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