Preoperative expenses treatment in accounts and income tax

kavitha (studying final) (830 Points)

26 June 2012  

our's is a Manfacturing company,incorporated in 1994 and started commercial production in 2007. rent, salaries, r & d,raw material purchases( on them vat, excise duty)business promotion exp etc. how to treat them in accounts and income tax. as per revised AS 26 there is no treatment for preoperative expenses.