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Inauguration expenses
Dear Sir / Madam, Just one day before start of operation in a Print Media Company we have done the expenses approx 15 to 20 lacs as Inauguration expenses. Can you please advise these expense should be claimed in single year or need to capitalized and in which head this expense should be capitalized. Thanks in advance.
Replies (1)
You have to capitalise pre-operative inauguration and to be written off over 5 years through P&L a/c starting from the year in which business has started.
Thanks & Regards
Piyush Tanwar
CA Finalist and Internal Auditor
Mobile - 9717468521
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