Depreciation on intangible assets (goodwill)
This query is : Resolved
PIYUSH SINGLA
(Querist)
25 May 2013
CAN WE PROVIDE DEPRECIATION ON INTANGIBLE ASSETS (GOODWILL).
25 May 2013
Yes. Please refer CIT v. Smifs Securities Ltd. [2012] 24 taxmann.com 222(SC).
PIYUSH SINGLA
(Querist)
25 May 2013
thankyou for your valuable opinion.
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.
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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