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.
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"KNOW HOW"
Replies (1)
Treat it as an Intangible Asset and Charge Depreciation @ 25 % pa U/S 32.
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