Preoperative exp
This query is : Resolved
ashish gupta
(Querist)
18 April 2012
Where to show the preoperative exp not written off as per the revised schedule VI.
CA Kishore Tallam
(Expert)
19 April 2012
If it is an expenditure which has to be written off, please write it off.
If it is an expenditure which is pending capitalisation, it will be grouped in CWIP.
If it is an expenditure which is pending capitalisation, it will be grouped in CWIP.
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ashish gupta
(Querist)
21 April 2012
Thanks a lot sir.
1 more doubt is the company has not started the business yet, so how to write off the preoperative expenses as there is no income.
1 more doubt is the company has not started the business yet, so how to write off the preoperative expenses as there is no income.
04 May 2012
Since the business is not started, it can not be written off.
Once the business is started and would generate income only then it is written off against such income @20% pa.
Once the business is started and would generate income only then it is written off against such income @20% pa.
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