Hi,
Please confirm if deferred revenue expenditure created in the last year can be written off fully in this year or if only 1/5th is allowable. I want to know the treatment only with respect to incoem tax act. Per the company`s act we have written off the total amount as the management has confirmed that there wont be any future benefits accruing out it.
Thanks and regards,
Bhargavi.
If it fullt w/o to revenue under the Co's Act, then why to show it as deferred revenue under I-T Act. In calculating the taxable income from business the same shud be fully w/o to P&L.
Dear Giridhar,
Thanks a lot. :-)
ADY & CO.
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