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Amortization of intangible assets

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Querist : Anonymous

Querist : Anonymous (Querist)

05 August 2013 Lease rights of M/s xyz,a partnership firm,has been cancelled.Can i write off these rights?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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05 August 2013 By writing off only the accounts will provide true and fair view. If you will not write-off, you will be showing an asset which has been extinguished.
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Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2013 Thank u sir..sir please clarify even this doubt..If i write off,will i get deduction in income tax,if yes,then under which section?

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