Incorporation of business
This query is : Resolved
04 July 2008
hi, i have a doubt regarding the incorporation and commencement of business
1 Any profit earned by a company before incorporation of business is considered as pre incorporation profit
however, 'if a public company earned any profit before commencement of business certificate and after incorporation' then what shall such profit be called.
2 can u give me clear information of about when a capital workinprogress and any expenditure earned before or at the starting of the business be considered as capital workinprogress
(RESOLVE MY QUERIES PLEASE)
1 Any profit earned by a company before incorporation of business is considered as pre incorporation profit
however, 'if a public company earned any profit before commencement of business certificate and after incorporation' then what shall such profit be called.
2 can u give me clear information of about when a capital workinprogress and any expenditure earned before or at the starting of the business be considered as capital workinprogress
(RESOLVE MY QUERIES PLEASE)
04 July 2008
1. It is a post incorporation profit only..PROFIT EARNED AFTER INCORPORATION...
2. capital work in progress refers to the cost incurred in constructing a capital asset which is in progress....
2. capital work in progress refers to the cost incurred in constructing a capital asset which is in progress....
04 July 2008
1. Profit earned before pre-incorporation is called, pre incorporation profit, but profit earned after obtaining certificate of commemncement of business is called Profit from business.
2.Expenditure incurred on construction of a capital asset is called Capital work in progress.
2.Expenditure incurred on construction of a capital asset is called Capital work in progress.
04 July 2008
Agree with the above views
04 July 2008
I agree with the above views
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is Aadhar PAN linking required for opening bank account?
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- Gst Sales of FY 2023-24
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
