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copyrights

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19 December 2009 CAN COPYRIGHT OF MOVIES AND SONGS GENERATED/PURCHASED DURING THE YEAR BE AMORTISED OR/WRITTEN OFF IN THE SAME PREVIOUS YEAR AS PER INCOME TAX ACT, 1961.

PLS PROVIDE JUDICIAL CASE LAWS(IF ANY) AND RELEVANT PROVISIONS REGARDING THE SAME.
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Barun Kumar Ghosh

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Barun Kumar Ghosh (Expert)
20 December 2009 Refer to section 32(1)(ii) of the Income-tax Act. As per this section the assessee can claim depreciation on the cost of copyright owned and used by the assessee.The rate of depreciation prescribed is 25% on WDV basis.
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