I have receently being told by one of my senior fellow chartered Accountant that a latest expert advisiory commitee has directed that misc. expenditure are to be covered by the AS-26 and should be written off 100% in the year when such expenditure takes place. which was earlier used to amortised over a period of 5-10 years depending upon managements decision.
I would like to know some thing about such a direction. you people can help me in that
CAclubindia
