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
Tax Invoice: Client had settled Rs. 5,25,000/- {after deducting TDS @ 10% from base/gross amount and then added (+) Service Tax Amount (15%)} which equals to Rs. 525000/- (Settled Amount by Client). Please let me know what will be gross amount and total invoice amount including Service Tax????
How is an accounting department structured?
What is an interest rate swap
What can go wrong if you have a balance sheet with a lot of debt? What can go wrong if there is negative owner's equity? What does a good cash flow statement look like and why?
what is the D.V.T. rate from 1/10/2009
What are the nine accounting cycles?
if no production is take place at the start of a process in royalty accounting what will be the accounting procedure for that.
how to prepare for accontant examinations
List the type of transactions entered in journal proper.
can any one send me tally professional version link
Accounting transactions are recorded in accordance with thier legal form or substance. Briefly explain the legal form and substance of the accounting transactions and give one relevant example.
Hi, Mobile manufacturing given a mobile phone as a gift to their employee. What journal entry we need to pass in company point of view.
in tally software payroll vouchers option is there for what purpose it is used ? please tell me friends.
Why we debit expenses and credit incomes ?
Tell me what does the standard journal entry includes?