preliminary expenses

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ayesha

ayesha (Querist)

27 February 2008 can all the preliminary expenses can be written in the first itself as per Companies Act,1956

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)

27 February 2008 For income tax Section 35D
For company law it can be written off to the profit. Amount not written off will be exhibited under Misc. expenditure (to the extent not written off) in the Balance-sheet

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)

27 February 2008 UNDER INCOME TAX ACT UPTO 1/5 EVERY YEAR UNDER SECTION 35D
UNDER COMPANIES ACT CAN W/OFF FROM PROFIT

R.V.RAO

R.V.RAO (Expert)

05 March 2008 WHAT IS ALLOWED AS INCOME TAX DEDUCTION UNDER SEC 35 D IS 1/5 TH EACH YEAR.
WHAT YOU CAN WRITE OFF UNDER COMPANY LAW IS YOUR DISCRETION. NO BAR FOR 100% WRITE OFFIN A SINGLE YEAR.
IN ANY CASE SUCH NON CASH EXP. ENTER
1.CASH PROFIT CALCULATIONS AND
2. DTA/DTL CALCULATIONS.(DEFERRED ASSET AND DEFERRED LIABILITIES)
R.V.RAO

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