New User / Register | Bookmarks | Annual Subscription | Feedback |
Login: Stay
| Forget Password |
Advanced Search            
TMI - Tax Management India. Com  

 
Discussions Forum
Home Forum Income Tax Month 3 2012 2012 (3) This
← Previous Next →
 

Pre-operative Expenes - Income Tax

 
Issue Id: - 3941
Dated: -23-03-2012
By:- CA SUNIL BHANSALI
Pre-operative Expenes

I have create a company and after incorporation, i incur some pre operative expense and other income like Interest on FDR  so i prepare P&L Account to claim these pre-op expense. Now the business of the company has not been started. in next years company has not any income so we are showing expenses as pre-operative expenses. is it ok to show pre-op exp. after preparing P&L account. please tell me proper treatment for the same.

Post Reply
 
Previous Posts
 


Dated: - 25-03-2012
By: - GOPALJI AGRAWAL

Sunil Ji

After application of AS-26 on Intangible Assets, the concept of pre-operative, deferred revenue etc do not exist. The preliminary and pre-operative expenses have to be debited in the Profit & Loss account itself. .For detail, please read para 56 of the said standard. AS 26 is applicable for all entities invariably w.e.f. 01/04/2004.


 
 
Previous Next

 

what is new what is new

Updates Knowledge Sharing Subscription Communication Newsletters More Options




Go to Mobile Website Go To Top
© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.