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Depreciation on intangible assets (goodwill)

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(Querist)
25 May 2013 CAN WE PROVIDE DEPRECIATION ON INTANGIBLE ASSETS (GOODWILL).
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
25 May 2013 Yes. Please refer CIT v. Smifs Securities Ltd. [2012] 24 taxmann.com 222(SC).
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PIYUSH SINGLA

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PIYUSH SINGLA (Querist)
25 May 2013 thankyou for your valuable opinion.
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PIYUSH SINGLA

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PIYUSH SINGLA (Querist)
25 May 2013 Certain expenses have been capitalised into intangible assets. Is it necessary to claim depreciation on intangible assets. Can it be avoided.
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CA Harish Suwalka

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CA Harish Suwalka (Expert)
25 May 2013 intangible assets or capitalised expenses should be amortised over the period of their effact, you could call it amortisation or Depreciation, the effact is the same !
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