Preoperative expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 June 2015
Electricity Expenses incurred before commissioning of business.
What should be the nature of expenses- Capital or Revenue, Preoperative or Preliminary.
What will be the impact under Income Tax Act. Whether can be claimed as expenses in the year itself or should be amortised?
What should be the nature of expenses- Capital or Revenue, Preoperative or Preliminary.
What will be the impact under Income Tax Act. Whether can be claimed as expenses in the year itself or should be amortised?
21 June 2015
If it is incurred not during construction period then it can be claimed as expenses in the year itself.
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