Chartered Accountant
101 Points
Posted on 04 August 2014
Also, there may be preliminary expenses which was incurred at the time of incorporation of company. These expenses will be written off in the books of account. However, for income tax purpose, shall be written off in 1/5 (i.e. shall be written off in five years).
And, then there wil be deferred tax too.
Thanks,
Shobhit