Franchise fee paid
This query is : Resolved
KAMAL BATRA
(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%
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%
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)
Message likes :
1 times
13 July 2015
completely agreed with amol sirs view
13 July 2015
Depreciation will not apply here. you can write off within 3 years
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