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Amortization of intangible assets

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 August 2013 Lease rights of M/s xyz,a partnership firm,has been cancelled.Can i write off these rights?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
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

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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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