preliminary exp...
sajiri shah (CA Final) (112 Points)
03 November 2007
to what extent can preliminary exp can b written off??
sajiri shah (CA Final) (112 Points)
03 November 2007
CA Mohit Mohan
(c.a. profession)
(557 Points)
Replied 03 November 2007
C.rajesh
(Articles)
(1392 Points)
Replied 31 March 2008
the priliminary expenses should be written off over five equal instalments. sec. 35D of income tax act deals with this. plz refer for further clarifications.
C.A. M.Com. Suhas A. Nagpure
(CA)
(1175 Points)
Replied 03 April 2008
Gauravgupta
(63 Points)
Replied 04 April 2008
with introduction of AS 26 preliminary expenses have to be written of in the year in which they r incurred..... while under Income tax it is allowed in 5 years starting from the year in which the business is commenced....... the difference in the two treatment would give rise to deferred tax adjustments under As 22.
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