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Intangible asset

20 November 2020

I install booths for govt. agencies free and I earned by putting advertisement on their booths. can I treat it as intangible asset and claim depreciation.

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4 Replies

JATINDER KUMAR (Accountant) (3662 Points)
Replied 20 November 2020

No, you can not treat intangible assets

Kapil Mehra (24 Points)
Replied 20 November 2020

It should be tangible

JATINDER KUMAR (Accountant) (3662 Points)
Replied 20 November 2020

This is not your assets

ayusmita (Tax consultant) (5890 Points)
Replied 21 November 2020

Intangible assets is a non physical asset that has a multi period of useful life
now as per your question you say you install booths for government means the booth are of government not yours means it's their assets
not asset in your hand
and advertisement become asset in rare case when it is in logo
or other long term branding investment then