preliminary expenses

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ayesha

ayesha (Querist)

27 February 2008 treatment of preliminary expenses as per Companies Act,1956 and Income Tax Act, 1961

ayesha

ayesha (Querist)

27 February 2008 treatment of preliminary expenses as per Companies Act,1956 and Income Tax Act, 1961

S.Srinivasaraghavan

S.Srinivasaraghavan (Expert)

27 February 2008 Already answered. The question has been repeated

CA Saurabh Maheshwari

CA Saurabh Maheshwari (Expert)

27 February 2008 ALREADY ANSWERED

ayesha

ayesha (Querist)

27 February 2008 can all the preliminary expenses be written off in the first year itself as per Companies Act, 1956

ayesha

ayesha (Querist)

27 February 2008 can all the preliminary expenses be written off in the first year itself as per Companies Act, 1956

Jitender

Jitender (Expert)

27 February 2008 as per tax laws :- 5 years u/s 35D
co law :- as per management.

CA. GOPAL SONIKA

CA. GOPAL SONIKA (Expert)

08 March 2008 The I-T Act provides for amortisation of preliminary expenses. Section 35 D specifies the expenditure to be included in preliminary expenditure, which under the I-T Act is allowable for all types of assesses. Conceptually, this is different from preliminary expenses under company law.
A company can as well write off its preliminary expenses in the same year under Company Law