what is diffrance between preliminary Exp and Misc. exp
Answer Posted / viswanath.chaganti
Preliminary expenses are expenses incurred for
incorporation of company/business. These expenses will be
written off over a period after incorporating the
business.These expenses will be shown in Balance sheet
asset side till write off.
Miscellaneous expenses are revenue in nature. Where
expenditure not related to particular head of account or
not able to classify, will accounted to Miscellaneous
expenses. These expenses will be transferred to P & L
account in the year end. Any miscellaneous expenses debited
to P & L a/c in excess of prescribed limit by Income Tax
Act, 1956 will be added back to income by authorities and
will be taxed accordingly.
Is This Answer Correct ? | 28 Yes | 5 No |
Post New Answer View All Answers
Expand-------BANT
1) why rbi charges more interest rate in d form of repo while borrowing from commercial banks, and lends at a lower interest rate(reverse repo) to d commercial banks? 2) Do cooperative banks need to maintain policy rates with rbi? 3) why rbi does'nt pay any interest rate on CRR?
Plz Give the Inventry Accounting Procedure 1.Domestic Purchases ( VAT,CST,& Excise) 2.Import Purchases ( Direct Expences & Excise ) 3.When Will the Price Diffrence Entry Happen? 4.Cash Discount & Trade Discount On Purchases? 5.Domestic Sales ( VAT,CST,& Excise) 6.Export Sales ( Customes ,Excise ) 7.Cash Discount & Trade Discount On Sales?
what are the purpose for the preparation of cost centre ?
i need sbi bank clerk exam model question papers
Breif notes about accounting standards
drawings by making a DD from bank ( suppose payable towards UIT ) and on cancellation on such DD what journal entry needs to be passed ?
Expand---------EDP
HI, FREINDS, I WANT TO KHOW IS THE CFP (CETICFIED FINANCIAL PLANNER) IS A GOOD COURSE, IS THEY ANY INSISTUTE IN HYDERABAD,IF ANY ONE DOING THIS COURSE PLEASE REPLY ME.
when apply for ragistred in central excise no
Expand CCIT?
how to pass journal entry or where to show forein transaction reserv in Bal sheet. pls explain basic
Expand--------SOT
is anybody attended interview in ernst&young for EMS PROCESS , pls let me know abt the written test and what type of report writing
For how long should prepayments be carried in the books as fictitious asset and when is it ideal for a new coy to pay tax