I want to know if legal charges paid for filing opposition proceedings for brand comes under which head.
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Legal charges
Replies (7)
Other Expenses under statement of profit and loss
legal charges under Indirect Expense in profit & Loss Accounts .
@ Prasad Nilugal. Sir Please Refer schedule 3 of companies act 2013, there is no such head called indirect expenses.
yes , Piyush is correct
but it take it as intangible asset. related to brand. is it correct
Sorry for mistake due to Oversight .
Legal charges shall be disclosed under the head Other Expenses with a note in notes to accounts disclosing the nature of payment if the amount paid is substantially higher
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