08 July 2010
Dear sir, We have incorporated a new company on dated 02.03.2010. The expenses incurred on its incorporation are amounting to Rs. 25,900/-. Now I want to know that how much amount of preliminary expenses can be claimed during the previous year 2009-10 under section 35D of the Income tax Act, 1961.
For your kind information the paid up capital of the company is Rs. 100,000 while it has no fixed assests and any other long term borrowings.
CAclubindia
