preliminary Expenses
This query is : Resolved
16 December 2010
preliminary expenses of co need to be write off in the first year??
Aditya Maheshwari
(Expert)
16 December 2010
In the books of accounts u have both options to write it off over a period of five years or write it off in one year itself.
All listed companies write it off in the year in which they are incurred and many non listed companies write it off over a period of five years.
For listed companies it is compulsory to write it off in the year in which they are incurred.
DTA can be made on the difference of written off as per books and allowable as per I. T. as in IT the same is allowable over a period of 5 years.
All listed companies write it off in the year in which they are incurred and many non listed companies write it off over a period of five years.
For listed companies it is compulsory to write it off in the year in which they are incurred.
DTA can be made on the difference of written off as per books and allowable as per I. T. as in IT the same is allowable over a period of 5 years.
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