Treatment for expenses and assets purchased prior incorporat
This query is : Resolved
02 November 2011
Dear All,
Could you please let me know if company has purchase some fixed assets like printers laptops prior to incorporation what will be the entries in the books of accounts it should be shown as fixed assets prior to incorporation of on the date of incorporation and it should be treated as incropration expnse..
Waiting for your reply
Thanks.
Himanshu
Could you please let me know if company has purchase some fixed assets like printers laptops prior to incorporation what will be the entries in the books of accounts it should be shown as fixed assets prior to incorporation of on the date of incorporation and it should be treated as incropration expnse..
Waiting for your reply
Thanks.
Himanshu
05 November 2011
The expenses will be treated as preliminary expense and section 35D is applicable.
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