Greetings,
Please let me know what is the effect of the Company Formation Expenses(like ROC fees, Professional Fees of CA/CS etc.) of a Company? I believe they've to capitalised under the section 'Miscellanesou Expenses' under the head Preliminary Expenses. Correct?
Now about writing off:
1) As per Income Tax Act, it has to be written off in 5 equal installments beginning from the year in which the Company was set-up.
2) Now, is there any way this can effected from the 2nd year to the 6th year. And what if the Company wants to write off the amount in 3 years or say 10 years?
CAclubindia
