Goodwill treatment
This query is : Resolved
03 April 2026
On transfer of proprietary business to private limited company goodwill will be paid by private limited company to proprietor
My questions is
whether goodwill is taxable in the hands of private limited company and
whether private limited company claim depreciation on goodwill paid whether it is compulsory
My questions is
whether goodwill is taxable in the hands of private limited company and
whether private limited company claim depreciation on goodwill paid whether it is compulsory
03 April 2026
Goodwill is not part of block of asset and depreciation is also not allowed thereon. Goodwill is not taxable as such. however, at the time of sale the same may be taken as part of cost of acquisition.
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