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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Quick Summary
This discussion clarifies whether installing booths for government agencies and earning revenue from advertisements constitutes an intangible asset eligible for depreciation. The consensus is no, as the booths are not your property. Intangible assets are non-physical, long-lasting resources. While advertising can sometimes be an asset, it typically requires a long-term branding investment like a logo, not simply ad placement on someone else's property.
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
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