banner_ad

KNOW HOW

This query is : Resolved 
Profile Image

Guest

Profile Image

Guest (Querist)
14 October 2010 A Pvt.Ltd. co. has paid 2,50,000.00 Rs for "Know How" to ONGC Corp.

Q1-What will the treatment of "Know How" in the books of Co.According to Income Tax.
Profile Image

Bhaskaran Chackrapani Warrier

Profile Image

Bhaskaran Chackrapani Warrier (Expert)
15 October 2010 Know how is an intangible asset as per part B of Appendix-1 of rule-5 of Income tax Rules,1962 and hence can be accounted as such on which depreciation can be claimed @ 25 %.
Profile Image

Guest

Profile Image

Guest (Querist)
15 October 2010 What will be treatment of "Know How" according to Companies Act?
Profile Image

Sanjay Dugar

Profile Image

Sanjay Dugar (Expert)
17 October 2010 Treatment will be as per AS 26 Intangible Assets.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI
ChatGPT Perplexity Claude Google AI Grok

CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details