Hi,
this year is the first year of the company. After the commencement of the businees certificate issued byROC,
The Co has incurred say Rs 10 lakhs towards salary and other expenses and the Co has nil income except interest income.
Whether Rs 10 lakhs can be claimed as Revenue expenditure
the co has incurred Rs10lacs of expendituer against which no revenue is being made. So it shud carry forward the loss to the next year.
however under the I-t it can claim the set-off the expenditure against the interset income and c/f the balance loss to the next year.
BHUPINDER SHAH AND COMPANY
New Delhi
CA Inter
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Interactive Media Pvt Ltd.
New Delhi
CA Inter
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CAclubindia
