pvt company incorporation & preliminary exp.
This query is : Resolved
CS Amit Kr Jain
(Querist)
23 August 2010
sir
Our company is a newly formed pvt ltd company like to know that , How will be the accounting entries and under which heads of following details.
form-1,18,32 -registration fees-58000/-
printing & drafting MOA & AOA-15000/-
service charge paid for filing everything-10000/-
Paid up capital is-10lakh for now
and how it will be treated for income tax purpose as per deduction u/s 35D
Our company is a newly formed pvt ltd company like to know that , How will be the accounting entries and under which heads of following details.
form-1,18,32 -registration fees-58000/-
printing & drafting MOA & AOA-15000/-
service charge paid for filing everything-10000/-
Paid up capital is-10lakh for now
and how it will be treated for income tax purpose as per deduction u/s 35D
Aditya Maheshwari
(Expert)
23 August 2010
As per books
Total preliminary expenses = 58000 + 15000 + 10000 = 83000
1/5 write off = 83000/5 = 16,600
For IT purpose
maximum deduction = 10,00,000 * 5% = 50,000
1/5 allowable in five years = 10,000
Deduction allowable = 10,000/-.
Total preliminary expenses = 58000 + 15000 + 10000 = 83000
1/5 write off = 83000/5 = 16,600
For IT purpose
maximum deduction = 10,00,000 * 5% = 50,000
1/5 allowable in five years = 10,000
Deduction allowable = 10,000/-.
CS Amit Kr Jain
(Querist)
23 August 2010
sir
what will happen to remaining 33000/-
can it be allowed as legal charges or professional fees as not paid to Roc and
and which paid to ROC as Filing fees.as
the CA X cons. pvt ltd has given single bill of Rs 83000/-
what will happen to remaining 33000/-
can it be allowed as legal charges or professional fees as not paid to Roc and
and which paid to ROC as Filing fees.as
the CA X cons. pvt ltd has given single bill of Rs 83000/-
Aditya Maheshwari
(Expert)
23 August 2010
Would be disallowed as not allowable u/s 35D.
CS Amit Kr Jain
(Querist)
23 August 2010
ok ,thank u sir for your advice
Aditya Maheshwari
(Expert)
23 August 2010
You are welcome. You can also thank by using the thank user icon.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
