Pre incorporation transactions
rakesh (student) (467 Points)
26 July 2022
can we account for transactions before incorporation date of firm for income tax purpose.
5 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(194663 Points)
Replied 26 July 2022
No. Not eligible, unless the expenses are related to incorporation of firm.
rakesh
(student)
(467 Points)
Replied 27 July 2022
Transactions are related to firm before incorporation other than incorporation expenses
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(194663 Points)
Replied 27 July 2022
Check if the partnership deed has allowed the operation before incorporation date, including such expenses.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(194663 Points)
Replied 28 July 2022
In that case its not admissible...
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