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Paiten purchese

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what about paiten purchese entry in tally and how to treat account accordingly law and regulations please suggest
Replies (8)

What is the meaning of Paiten ? please Clarify . (  is it Asset  or  Stock  purchase or  other purchase ?) 

Explain in detail

Dr. Patent- non current asset

Cr. Bank/Cash

for 3 to 5 years amortize it like

Dr. Amortization

Cr. Patent

and recognize DTA/DTL accordingly as per IT acts

@ Yasawi Gomed new

Patent is an intangible asset , however in query the spelling is different . please check.

@ Prasad Nidugal this isnt my query. That person wrote a mistake

Yes , Mr  Yasawi Gomes new , agree

For or  Discloser  in Financial  Statement   As 26  or  Ind AS 38 ( Intangible  Asset  ) will  applicable . 

 

 

 

 

 

 

Ok @ Prasud Nilugal, I thought this must be it as well. Im not sure about disclosures cause I rarely use them

I also thought same way , however no clarification from queriest.


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