Trademarks & Patents
This query is : Resolved
Yajuvendra Rawat
(Querist)
27 November 2009
Dear Friends,
After registering a Trademark how will i write it off from my books of accounts. Normally Trademarks are registered for 10 years as per the rule, after 10 years it has to be renewed, but in books of account till what period it can be reflected & how will it be amortized.If i want a trademark or a patent to be for 5 or 6 years in my books can i do it, what will be the depreciation or amortisation rate on it. Please help me
After registering a Trademark how will i write it off from my books of accounts. Normally Trademarks are registered for 10 years as per the rule, after 10 years it has to be renewed, but in books of account till what period it can be reflected & how will it be amortized.If i want a trademark or a patent to be for 5 or 6 years in my books can i do it, what will be the depreciation or amortisation rate on it. Please help me
CA. Amit Daga
(Expert)
28 November 2009
Trade mark should be write off in 10 yrs asper indian accounting standard.
But as per ifrs we can write off trade off in 5 to 6 yrs because ifrs is saying any assets shall be depreciated or amortised according to there useful life and as per you useful life is only 5 to 6 yrs .. So you can write off in 5 to 6 yrs but you need to proof that useful life is assets is only 5 to 6 yrs
But as per ifrs we can write off trade off in 5 to 6 yrs because ifrs is saying any assets shall be depreciated or amortised according to there useful life and as per you useful life is only 5 to 6 yrs .. So you can write off in 5 to 6 yrs but you need to proof that useful life is assets is only 5 to 6 yrs
Yajuvendra Rawat
(Querist)
28 November 2009
Thanks for ur help
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