Dear
Members
The assesse a partnership firm started its Operation in july`2013. It incurred a cost of Rs 12,71,000/- Appx. in F.Y 2012-13 which includes
Rent of the building,Electrical fittings, signboards,and Other Furnishing work.
The Issue is:-What would be the treatment of those revenue expenditure
Though the operations started in jule 13, but u r paying everything before on the name of the firm na.. that means u had filed income tax return for the a.y.12-13 also... and in that u must have claimed these expenses na though there is no profit.. so that loss can b carried forward...
O P Bagla & Co LLP
New Delhi
CA Inter
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Rahul Dang & Associates-Chartered Accountants
Pune
CA Inter
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CAclubindia
