What is the treatment for PRELIMINARY EXPENSES?
- 27 Answers
- 76542 Views
- Capital IQ, Franklin Templeton, I also Faced
- E-Mail Answers
Answer Posted / g. shanker
Preliminary expenses, which incurred for before
commencement of business. For setting up of any undertaking
or business (Preparation of feasibility report, project
report or for conducting market survey or any other survey
or engineering services relating to the business and Legal
charges for drafting any agreement for setting up or for
conduct of any business).
For Income tax purpose the following is the permissibe
expernditure.
(a)In case of company, 5% of Cost of Project or Capital
employeed.
(b)In case of any other business, 5% of the Cost of Project.
It will be allowed as deduction in 5 equal installments.
| Is This Answer Correct ? | 69 Yes | 6 No |
Post New Answer View All Answers
How now about sales tax and purchase tax.what is the persentage of those thing in tamil nadu.
what can increase gearing?
hello,dear any body give me mis report format. my email :kumar_ranjeet121@yahoo.in
what is sales life cycle???
When is a dedit note raised When is an expense booked
can i have practical examples of AS-30
explain about mergers & aquisitions? asked on 30/7/09
why specifically inited states ?
Short answer on Amalgamation
Total numbers of companies listed on stock Exchange?
HOW MUCH LATEST ACCOUNTING STANDARDS , TDS RATE , INCOME TAX RATE, EXCISE , VAT , SERVICE TAX & FBT RATES? (PLS. ARRANGE TO SEND THE RATES FOR ABOVE IN CATAGORY & LIMIT WISE)
How shall I calculate the true profit of my business, as I am a layman for accounting.
What are the general Ledgers?
What is meant by advance ruling? What is the scheme of advance rulings?
what is mean by provision ? give me examples ..
