Profits or loss pre and post incorporation
Suresh Pai S (Tax Consultant) (1029 Points)
29 March 2017Suresh Pai S (Tax Consultant) (1029 Points)
29 March 2017
Diamond Goyal
(Finance Accounts Taxation & Auditing)
(90 Points)
Replied 30 March 2017
Because at the time of pre-incorporation there was no existance of business & hence the amount and nature of expenditure incurred will be capitalized.
Suresh Pai S
(Tax Consultant)
(1029 Points)
Replied 30 March 2017
Diamond Goyal
(Finance Accounts Taxation & Auditing)
(90 Points)
Replied 30 March 2017
Business means activities after incorparation of entity. i.e. activities after certificate of incoporation, commencement of business for sale or purchase etc.
Suresh Pai S
(Tax Consultant)
(1029 Points)
Replied 30 March 2017
Ayesha
(CA IPCC)
(229 Points)
Replied 30 March 2017
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