Depreciation on intangible asset
This query is : Resolved
27 November 2012
Wether u/s. 32 depreciation is allowed on goodwill or not ? If it is acqired or purchase than ? Give also reference of case for the same .
27 November 2012
You can check the following points :-
* Goodwill purchased is an intangible asset and depreciation shall be allowed on it.
* But, Depreciation on purchased goodwill shall be allowed only if it is purchased after 01-04-1981.
* Depreciation shall NOT BE ALLOWED on Self generated goodwill.
* Depreciation @ 25% (WDV) is allowed.
* Goodwill purchased is an intangible asset and depreciation shall be allowed on it.
* But, Depreciation on purchased goodwill shall be allowed only if it is purchased after 01-04-1981.
* Depreciation shall NOT BE ALLOWED on Self generated goodwill.
* Depreciation @ 25% (WDV) is allowed.
19 December 2012
It is clearly mentioned in law..........no case law is required for it. read section 32
19 December 2012
It is clearly mentioned in law..........no case law is required for it. read section 32
29 December 2012
agreed with experts....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Copyright software
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- FORM 26A APPLICABILITY
- When TDS on GST applied
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
