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Preliminary Expenses

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(Querist)
03 December 2008 Sir,

As preliminary expenses is written off in 5 years, my question is as our company has shutdown its operations how to treat preliminary expenses now i.e what is the entry we need to pass pls let me know
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CA. Amit Daga

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CA. Amit Daga (Expert)
03 December 2008 when company is going to shut down .. simply u will be write off complete priliminary exp in the current year
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CA. AMIT AGARWAL

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CA. AMIT AGARWAL (Expert)
03 December 2008 I agree with the above view
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Prasanna Bhat

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Prasanna Bhat (Querist)
04 December 2008 Sir,

But in incometax it disallow to write off preliminary expenses at one shot, how to go about
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Prasanna Bhat

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Prasanna Bhat (Querist)
04 December 2008 Sir,

Why does incometax disallow the preliminary expenses to be written off in a single year pls let me know
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
15 December 2008 You may claim as per Section 35D only otherwise the expense in excess of the limit will be disallowed. No way the entire amount may be claimed in one year only.
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