Preliminary Expenses as Promoter's Contribution
This query is : Resolved
17 September 2010
Dear Experts,
One of the promoter has incurred preliminary expenses for the company. Can the same be adjusted against his share of capital?
One of the promoter has incurred preliminary expenses for the company. Can the same be adjusted against his share of capital?
18 September 2010
Preliminary exp. to be woff
Message likes :
1 times
18 September 2010
Adjustment would not be the right method. There has to be physical movement of funds. Eventually, the money would come back to the promoter.
Message likes :
1 times
19 September 2010
Hi Ashish,
Genarally promoters incure expenses on behalf of the Company. So it should be shown as payable to promoters. It can not be adjusted against Share Capital.
Genarally promoters incure expenses on behalf of the Company. So it should be shown as payable to promoters. It can not be adjusted against Share Capital.
Message likes :
1 times
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 this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Should I report my US salary for January, February, March in Schedule FA?
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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 einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
