Reviseed schedule 6
This query is : Resolved
29 October 2012
I am having a doubt on the Treatment of Misc. Expenses not Written Off.
I have formed a new company having its incorporation on 01/01/2012. I have incurred expenditure but till 31/03/2012 i have not started its operations. Now the question is whether to this Preoperative Expense in Assets head or to be shown as a negative figure in Reserves and Surplus- as per Revised Schedule 6.
Please Help me regarding this.
I have formed a new company having its incorporation on 01/01/2012. I have incurred expenditure but till 31/03/2012 i have not started its operations. Now the question is whether to this Preoperative Expense in Assets head or to be shown as a negative figure in Reserves and Surplus- as per Revised Schedule 6.
Please Help me regarding this.
29 October 2012
as per AS 26 intangible, prelimary exp can't be deferred hence need to be w/o wholly after commencement
still if you want to show (becoz of IT) show under non current (others)
lets see what other members have to say
still if you want to show (becoz of IT) show under non current (others)
lets see what other members have to say
29 October 2012
Deferred Expenses Preoperative Expenses Didnt Found a Specific place in Revised Schedule.
You have to Show Them Under Current Assets Only.
As Per Companies act & IT Act, Both, You can Write Off Then 1/5 Every Year.
You have to Show Them Under Current Assets Only.
As Per Companies act & IT Act, Both, You can Write Off Then 1/5 Every Year.
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