Section 35D
This query is : Resolved
Sumti Bhadani
(Querist)
21 October 2010
A company incorporated after 1999 has by mistakenly written off preliminary expenses on 1/10th basis which as per the I.T Rules is 1/5th for 5 years. is writing off preliminary expenses is allowable u/s 35D
taxindiaconnect
(Expert)
21 October 2010
There should ideally not be an issue, however the assessing officer after five years can disallow the claim of the assesse saying that it not allowable after fice years.
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