Answer Posted / tapan sanghvi
all the expenses pertaining to the pre incorporation part
of the company should be written off in the first year of
business as per para 55(d) of AS 26 "Intangibles".
as per income tax act, section 35D permits write off in 5
years.
hence, there will be a variance on which deferred tax asset
should be created on the difference.
| Is This Answer Correct ? | 25 Yes | 10 No |
Post New Answer View All Answers
What is Capital Commitments means?
how will rectify the error in trial balance.
salary entry with briefly including pf,esi,employee advances -journal entry with against payment entry
Where do we show "Dividend paid in FFS ,either in FFO or in FFS? what is teh concept behind?
What is bond ? What is capital market?
Explain me what is important to effective market analysis?
What are the activities that are included in the cash flow statement?
Recent banking question for 2015 interview for scale2 exam of sbm
What are the advantages of computer accounting over paper accounting?
Accounting for vc money in financials
IS METHODEX IS GOOD INSTITUTE FOR SAP FICO MODULE TRAINING. IS IT IN BANGALORE OY HYDERABAD.
what is casual receipt? is it exmpted in income tax?
Why Is The Distinction Between Product Costs And Period Costs Important?
Mention why some asset accounts have a credit balance?
What are the steps to take before you approve an invoice for payment?
