16 September 2008
it,s a pvt.ltd they spent Rs.60lakhs as advertisement. they can write off 1/3 in books and in IT adjustment they can claim entire expenses in first year itself.
17 September 2008
No. As Per Revised AS-26, Advertisement Expenditure Cannot Be Deferred. Also After Revised AS-26, there is no such thing known as Deferred Revenue Expenditure. Outflow of Resources Is To be Classified As Intangible Asset(Satisfying Conditions of AS-26) or Else Charged To Profit Statement in the year of incurrence.
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