TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Tax deduction: amortisation of preliminary business expenses over ten years (or five years post-1998) with ceiling limits</h1> Where a resident person or Indian company incurs specified preliminary expenses before starting business, for an extension of an undertaking or for a new unit, the expenditure is deductible by amortisation over ten years (one-tenth annually) or, for post-1998 expenditures, over five years (one-fifth annually). Covered items include feasibility and project reports, market/engineering surveys, relevant legal charges, company formation and public issue costs, and prescribed other expenses. Deduction is limited by a ceiling (2.5% of project cost or, for companies, option to use capital employed; increased to 5% for post-1998 spend); non-company claimants must furnish an audit report; amalgamation/demerger transfers and the prohibition on claiming the same expenditure under other provisions are addressed.
TaxTMI 
TaxTMI 
