Expenses relating to trade mark registration
This query is : Open
17 July 2014
Dear Experts,
How to book Expenses relating to get trade mark registration for a pvt ltd company. we paid 55000/- to a consultant it includes
fee for 5 applications @ 7500 total 37500/-
and professional fees to consultant 17500
total is 55000/-.
then how to book these expenses in company books of accounts.
Thanks In Advance.
Narendra Kumar M
9949952188.
How to book Expenses relating to get trade mark registration for a pvt ltd company. we paid 55000/- to a consultant it includes
fee for 5 applications @ 7500 total 37500/-
and professional fees to consultant 17500
total is 55000/-.
then how to book these expenses in company books of accounts.
Thanks In Advance.
Narendra Kumar M
9949952188.
19 July 2014
Dear Narendra,
Trademark is an intangible asset and the expenses incurred t/w registration should be capitalised and professional fee for consultants should be treated as revenue expenditure. So the entry shall be as follows:
Trademark (Asset) a/c Dr 37,500
Professional fee a/c Dr 17,500
To Consultants a/c 55,000
Note: If tds is applicable on professional fee add a JV on it for 17,500.
Regards,
Vijay Kumar
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