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Franchise fee paid

This query is : Resolved 
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(Querist)
13 July 2015 Hi
A pvt ltd co paid non refundable franchisee fee for contract period of 3years.

Pl advise its treatment as per Companies Act and income tax act.

To be written off over 3 year or deprecation @ 25%
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Amol S Joglekar

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Amol S Joglekar (Expert)
13 July 2015 If franchisee is SURE of its business being continued for 3 years..... WRITE off over a period of 3 years. (Companies ACT as well as Income Tax Act)
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
13 July 2015 completely agreed with amol sirs view
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CMA Gul S

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CMA Gul S (Expert)
13 July 2015 Depreciation will not apply here. you can write off within 3 years
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