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Llp

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 February 2014 Dear All,
Can anyone tell me how to treat LLP formation expenses in Financial Statement of LLP?

Will this be treated as preliminary expense and written off in 5 years or entire in curent year?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
16 February 2014 Yes, such expenses can be shown as Preliminary Expenses and can be w/off 1/5 the every year after the commencement of business.
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