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Preoperative exps very urgent

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(Querist)
15 September 2012 Sir,What is the treatment of preoperative exps in income tax.Whether it is added to fixed assets & so eligible for depreciation & treatment of the same in accounts as per revised schedule 6?
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Amol S Joglekar

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Amol S Joglekar (Expert)
15 September 2012 It is still regarded as PRELIMINARY expenses.
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CA.Vinita Gupta

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CA.Vinita Gupta (Expert)
16 September 2012 preoperative expenses is neither added to Fixed Asset nor eligible for depreciation

It can be amortised
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