Exps incurred before incorporation: can exps be claimed?

Tax queries 309 views 1 replies

Hello,

3 foreigners planning to set-up a restaurant in India travel all over India for some reasearch. They have incurred various exps like air travel, road travel, hotel exps etc. However, they haven't incorporated a Pvt Ltd Co. yet for their purpose. Is there any chance they can claim set-off of these expenses to their future profits after they set-up their Pvt Ltd Co.?

Replies (1)

In other words, can an Indian company with only foreign directors and foreign share holders enjoy the benefits of Sec 35D?


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