Preliminary Expenses
This query is : Resolved
03 December 2008
Sir,
As preliminary expenses is written off in 5 years, my question is as our company has shutdown its operations how to treat preliminary expenses now i.e what is the entry we need to pass pls let me know
As preliminary expenses is written off in 5 years, my question is as our company has shutdown its operations how to treat preliminary expenses now i.e what is the entry we need to pass pls let me know
03 December 2008
when company is going to shut down .. simply u will be write off complete priliminary exp in the current year
03 December 2008
I agree with the above view
04 December 2008
Sir,
But in incometax it disallow to write off preliminary expenses at one shot, how to go about
But in incometax it disallow to write off preliminary expenses at one shot, how to go about
04 December 2008
Sir,
Why does incometax disallow the preliminary expenses to be written off in a single year pls let me know
Why does incometax disallow the preliminary expenses to be written off in a single year pls let me know
15 December 2008
You may claim as per Section 35D only otherwise the expense in excess of the limit will be disallowed. No way the entire amount may be claimed in one year only.
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