https://www.taxtmi.com/highlights?id=71349 Allowable business expenses - There is difference between commencement of the business and setting off of the business. All the expenses incurred pre-commencement are to be treated as pre-operative expenses and the expenses incurred which do not form the part of the “work in progress” (WIP) like office expenses, salaries, advertising, brokerage and commission which are incurred for running of the business operations and to bring revenues to the company are to be treated as revenue expenditure. - AT en-us Mon, 07 Aug 2023 08:13:28 +0530 Mon, 07 Aug 2023 08:13:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=71349 Allowable business expenses - There is difference between commencement of the business and setting off of the business. All the expenses incurred pre-commencement are to be treated as pre-operative expenses and the expenses incurred which do not form the part of the “work in progress” (WIP) like office expenses, salaries, advertising, brokerage and commission which are incurred for running of the business operations and to bring revenues to the company are to be treated as revenue expenditure. - AT Highlights Income Tax Mon, 07 Aug 2023 08:13:28 +0530 https://www.taxtmi.com/highlights?id=71349