tax treatment on pre operating expenses in case of LLP
This query is : Open
11 December 2016
we have taken franchisee where in pay franchisee fee of 5 lakh from partners personal account as our limited liability partnership is not incorporated.
1)whether this expense will be eligible for amortisation
2) whether we have to show 5 lack capital as initial capital while forming LLP
12 December 2016
For LLP there is no obligation of minimum capital requirement, so it is your discretion to show extent of capital.
Franchise fees non refund able paid if it is paid for annually than you can written off same year, if it is spread for certain fixed period than same can be apportioned equally for franchise period.
Franchise fees non refund able paid if it is paid for annually than you can written off same year, if it is spread for certain fixed period than same can be apportioned equally for franchise period.
12 December 2016
Thanks kaviraja sir
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Building and other construction workers welfare cess act 1996
- Eway bill for machinery reparing
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Bank Accounts in Balance Sheet for ITR 3
- Gift of mutual fund units to daughter
- Annual return of gst limit
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Reporting of STCG on Property in ITR
- Error while filling exam form November 2026
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
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
