Taxation Exam > Taxation Videos > Income Tax for assessment (Inter Level) > S 35D, Amortisation of preliminary expenses
S 35D, Amortisation of preliminary expenses Video Lecture | Income Tax for assessment (Inter Level) - Taxation
|
405 videos|72 docs
|
FAQs on S 35D, Amortisation of preliminary expenses Video Lecture - Income Tax for assessment (Inter Level) - Taxation
| 1. What are preliminary expenses in relation to taxation? |  |
Ans. Preliminary expenses are the costs incurred by a company before it starts its business operations. These expenses include legal fees, registration fees, and other costs associated with setting up the company. In the context of taxation, these expenses can be amortized over a period of time to reduce the tax liability.
| 2. How are preliminary expenses amortized for tax purposes? | |
Ans. Preliminary expenses can be amortized over a period of time for tax purposes. The specific period over which these expenses can be amortized depends on the tax laws of the country or jurisdiction. Generally, the company can deduct a portion of the preliminary expenses each year, reducing its taxable income.
| 3. What is the benefit of amortizing preliminary expenses for taxation? | |
Ans. Amortizing preliminary expenses for taxation provides the benefit of reducing the tax liability of the company. By deducting a portion of the expenses each year, the company can lower its taxable income, resulting in a lower tax bill. This can help improve the company's cash flow and overall financial position.
| 4. Are there any limitations or restrictions on the amortization of preliminary expenses? | |
Ans. Yes, there may be limitations or restrictions on the amortization of preliminary expenses for taxation. These limitations can vary depending on the tax laws of the country or jurisdiction. Some common restrictions may include a maximum annual deduction limit, a specific period over which the expenses can be amortized, or certain conditions that need to be met for the expenses to be eligible for amortization.
| 5. How should a company account for the amortization of preliminary expenses in its financial statements? | |
Ans. A company should account for the amortization of preliminary expenses in its financial statements by recognizing the amortized amount as an expense in the income statement. This reduces the company's taxable income and is reflected in the tax provision. The accumulated amortization of preliminary expenses should also be disclosed in the notes to the financial statements to provide transparency and clarity to the users of the financial statements.
Related Exams
About this Video
|
Nov 16, 2024 Last updated |
Video Description: S 35D, Amortisation of preliminary expenses for Taxation 2024 is part of Income Tax for assessment (Inter Level) preparation.
The notes and questions for S 35D, Amortisation of preliminary expenses have been prepared according to the Taxation exam syllabus.
Information about S 35D, Amortisation of preliminary expenses covers all important topics for Taxation 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for S 35D, Amortisation of preliminary expenses.
Introduction of S 35D, Amortisation of preliminary expenses in English is available as part of our Income Tax for assessment (Inter Level) for Taxation & S 35D, Amortisation of preliminary expenses in
Hindi for Income Tax for assessment (Inter Level) course. Download more important topics related with notes, lectures and mock test series for
Taxation Exam by signing up for free.
Description
Video Lecture & Questions for S 35D, Amortisation of preliminary expenses Video Lecture | Income Tax for assessment (Inter Level) - Taxation - Taxation full syllabus preparation | Free video for Taxation exam to prepare for Income Tax for assessment (Inter Level).
Information about S 35D, Amortisation of preliminary expenses
Here you can find the meaning of S 35D, Amortisation of preliminary expenses defined & explained in the simplest way possible.
Besides explaining types of S 35D, Amortisation of preliminary expenses theory, EduRev gives you an ample number of questions to practice S 35D, Amortisation of preliminary expenses tests,
examples and also practice Taxation tests.
|
405 videos|72 docs
|
|
Explore Courses for Taxation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Amortisation of preliminary expenses Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,S 35D
,Exam
,mock tests for examination
,Amortisation of preliminary expenses Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,ppt
,Viva Questions
,Objective type Questions
,S 35D
,shortcuts and tricks
,Sample Paper
,S 35D
,practice quizzes
,Free
,Amortisation of preliminary expenses Video Lecture | Income Tax for assessment (Inter Level) - Taxation
,Important questions
,study material
,Extra Questions
,video lectures
,past year papers
,MCQs
,Semester Notes
,Summary
,Previous Year Questions with Solutions
;
Study S 35D, Amortisation of preliminary expenses on the App
Students of Taxation can study S 35D, Amortisation of preliminary expenses alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the S 35D, Amortisation of preliminary expenses,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of S 35D, Amortisation of preliminary expenses is prepared as per the latest Taxation syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup