VARUN (PCC STUDENT) (523 Points)

30 July 2010  

please guide me in writing off the preliminary expenses ...


according to sec 35D of income tax act, 1961, it should write off in 5 equal instalments.


and what are the provisions of AS-26 (INTANGIBLE ASSETS) regarding writing off preliminary expenses ??


whehter i write off  expenditures in 5 instalments or in 1 go .. thats debiting whole expenditue in p&l a/c completely ???