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