priliminary exp
This query is : Resolved
25 August 2009
prliminary expenses for the increase in the share capital to be w/off in the 5 equal installments , is there is any cutoff amount slabs for this. can small amount be w/off in the same year???????
25 August 2009
prliminary expenses r those exp. which occour before the incorporation of the company. after the company come into existance any exp. for the increase in the share capital can not call prliminary expenses. this can be charged 2 P&L in one time. However as per IT act exp. inncured for increase in share capital will be treated as capiatl exp. nd be disallowed.
U/s 35D of the act prliminary expenses can be write of in five equal installment.
U/s 35D of the act prliminary expenses can be write of in five equal installment.
25 August 2009
agreed with harish
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