Capital Gain Tax on sale of self generated goodwill
This query is : Resolved
31 January 2009
I would like to know the basis of calculation of period of holding in case of self generated goodwill, which will decide whether goodwill is a long term capital asset or short term capital asset
01 February 2009
From day it was recognised in books...
Cost will be "nil" as per srinaivasa case (landmark judgement)
Cost will be "nil" as per srinaivasa case (landmark judgement)
01 February 2009
Full citation referred by Mr. Deepak is CIT Vs. B.C.Srinivasa Setty (1981) 208 ITR 882(SC).
03 February 2009
I would like to know whether Sale of Self generated Goodwill, which is not recognised in books, will be Long Term Capital Asset or Short Term Capital Asset. The Company is in existance for around 5 years.
Regards,
CA Abhishek Bagaria
Regards,
CA Abhishek Bagaria
08 February 2009
Long Term Capital Asset
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