Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Trademarks & Patents

Save Share

This query is : Resolved

Yajuvendra Rawat (Querist)
Follow

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

CA. Amit Daga

CA. Amit Daga (Expert)
Follow

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

Yajuvendra Rawat

Yajuvendra Rawat (Querist)
Follow

28 November 2009 Thanks for ur help

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now