Go AD-Free with CAclubindia Pro and Daily WhatsApp Updates. Subscribe Now!

Cost of acquisition of self generated goodwill

adhithya joshym (1 Points)

16 September 2020

capital gain treatment of self generated goodwill?

Reply
Follow
Share

1 Replies

yasaswi gomes (My grammar is 💯 good I) (7290 Points)
Replied 16 September 2020

I know like this as Internally generated goodwill and it is expensed because it is not separately identifiable from activities. Since it is cost is expensed, I read it just now from others that it is non taxable. I am also of the same opinion that capital gains arise on sale and when there is no goodwill, there is no sale! Besides goodwill is either acquired or written off!

I meant xpenditure incurred is expensed and no goodwill is recognised. IndAS 38.48

https://www.caclubindia.com/forum/self-generated-goodwill-82255.asp

1 Like