Advice Needed: allowable expenses from past years

[awaisaftab]

The equipment will become asset of your business and cannot be claimed as expense in any tax year. However depreciation shall be allowed to you as admisible deduction. Any expense that you incured in relation to business before the commencment of business become the part of pre-operating expenses. The pre-operating expeses can be amortized as per rate specified in the ITO,2001.


Regards,

Awasi