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Tax deduction on preoperative expense

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Querist : Anonymous

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Querist : Anonymous (Querist)
03 January 2013 Hi,
A private company is incorporated on 05.07.2011 with a paid up capital of Rs.100000. Authorized Capital of Rs. 100000000. Now Previous year 05.07.2011 to 31.03.2012 company did not commence any commercial activity, also did not file Income Tax return. and the preoperative expenses are 760000.
Is company can forward this expenses and avail in future years as deduction in tax.
please specify the provision of Section 35D is applicable here.
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Anand

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Anand (Expert)
03 January 2013 Only those expenses as specified under Section 35D can be considered as a deduction from total income.
The same will be allowed upto 5% of Capital Employed
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Querist : Anonymous

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Querist : Anonymous (Querist)
04 January 2013 sir, in my case company did not filed Income tax return and the loss is due to preoperative expenses ( ROC charges), so is this loss can be forwarded.
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