Miscellaneous expenditure

amortization can be done over the period of 8 years

but the new scheule VI has not particularly specified what will be the treatment of miscellaneus expenditure.

as per my latest dicussion with my principle,

we can adjust miscellaneous expenditure with reserve and surplus.

but if considered AS 26 (para 56) whole amount can be debited in profit and loss a/c.

As per the guidance note unamortise amount (like amortised amount on discount on debentures) can be shown under non current assets. There is no specific mention of miscellaneous expenditure under companies or income tax act. In both the acts preliminary expenditure is mentioned. As rightly said by Jean, as per AS 26 Misc. expenditure can be debited to p&l in the same year

We can consider this as an option , right      or  else  usually one amortises the amount for a period of 5 years .correct me if i am wrong.