PMS Intangible asset or not?

Sagar (Own firm) (50 Points)

08 August 2018

Fees of ₹ 10L is paid for Portfolio management Service licence as per SEBI.

it this capitalise as Intangible assets or not?

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Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 08 August 2018

Originally posted by : Sagar
	Fees of ₹ 10L is paid for Portfolio management Service licence as per SEBI.it this capitalise as Intangible assets or not?

Its a fees paid for service taken hence cannot capitalise

Prakash Gehani (Consultant & Teacher(Whatsapp 8718057907)) (1306 Points)
Replied 08 August 2018

what is its useful life..?

Sagar (Own firm) (50 Points)
Replied 08 August 2018

Till end of the business. but every 3 year fees has to be paid of 3L

Prakash Gehani (Consultant & Teacher(Whatsapp 8718057907)) (1306 Points)
Replied 08 August 2018

i think it should be recognised as expense because it is registration fees and it doesnt result in intangible asset.

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