Professional fees
This query is : Resolved
19 November 2013
Can a Professional fees towards trade mark application be captilaised. Whether the amount is captalised wholly or any amount of percenatge to be taken
N.Rajendra
N.Rajendra
19 November 2013
As per AS-26 issued by ICAI, expenditure on Trademark can be recognised as an asset if the trademark can endure future econimic benefits to the Company.
Here, the actual expenditure incurred may be capitalised, i.e Application fees, professional fees, reimbursement of expenses to professional etc.
The entire epxnditure incurred is taken and no percentage/ arbitary basis can be followed.
Here, the actual expenditure incurred may be capitalised, i.e Application fees, professional fees, reimbursement of expenses to professional etc.
The entire epxnditure incurred is taken and no percentage/ arbitary basis can be followed.
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