Preliminary Expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2011
Dear experts,
If preliminary expense is not written off in last year both as per companies act and income tax act, then what will be its implication on current year and also in deferred tax calculation.
Thanks in advance.
If preliminary expense is not written off in last year both as per companies act and income tax act, then what will be its implication on current year and also in deferred tax calculation.
Thanks in advance.
17 July 2011
Under Income tax we cannot claim incase you missed last year. Under companies act you can write off but under deferred tax it will be permanent difference instead of timing difference
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