Pre incorporation Expenses
This query is : Resolved
02 September 2009
Hello Members,
A new company - ABC hospitality services pvt ltd was incorporated dt 1.11.2008 to carry on the business of hospitality ie providing services such as masssage , relaxing etc, . The company has incurred some expenses towards travelling (expenses prior to the date of incorporation( ie before 01.11.2008 )and others. How the same is treated under
(a) companies act
(b) under IT act
Thanks in advance
Regards
Tejashwini
A new company - ABC hospitality services pvt ltd was incorporated dt 1.11.2008 to carry on the business of hospitality ie providing services such as masssage , relaxing etc, . The company has incurred some expenses towards travelling (expenses prior to the date of incorporation( ie before 01.11.2008 )and others. How the same is treated under
(a) companies act
(b) under IT act
Thanks in advance
Regards
Tejashwini
03 September 2009
No doubt priliminary exp
03 September 2009
will be allowed in 5 fianncial years for IT purpose
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