Will the rent paid by company before its incorporation, can be accounted as Preliminary expenses?
praveen
(Chartered Accountant)
(6971 Points)
Replied 09 July 2012
I think it should be allowed u/s35D
d) Such other items of expenditure (not being expenditure eligible for any allowance or deduction under any other provision of this Act) as may be prescribed.
KRISHNAPRASAD IYER
(B.Com , CA Final)
(657 Points)
Replied 09 July 2012
Yes, it can be treated as preliminary expenditure
shubham jain
(C.A. final student)
(32 Points)
Replied 10 July 2012
Mr Devdatta,
it can be considered as preliminary exp. because any exp incured till the formation of company shall be considered as preliminary exp
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