Preliminary expenses

Sir,

I am Finalizing the Accounts of some private limited company and that company was incorporated during the previous year and there are some priliminary expenses so what is the accounting traetmnet of the preliminary exp. Whether I will write off whole expense in the same year of whether I will W/o 1/5 as per IT Act. or if there is deffred tax creation then tell me Accounting entry for the same.... Please give me suggestion fast