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

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.

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

14 May 2008 I AGREE WITH SRI GOPAL AND OTHERS.
R.V.RAO


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