Preliminary Expenses

It can be treated at par with priliminary expenses though amount has been recd from outside india, the nature of expense is not changed.

it can be taken as Preliminary expenses and therefore taken to profit and loss account as per AS 26.

But the problem faced is this that the FIRC says that the amount was received as" Loan Payment". and also since the expenses are incurred three months before incorporation . can it still be taken to accounts. set apart the FEMA thing.

Means that the fact the expenses are incurred befire three months of incorporation. Does it make any difference?

this can be treated as preliminary expence

Please tell how to justify the transaction from FEMA point of view