A private limited company engaged in the sale of cars, very recently got its trademarks registered for which it has to expenes Rs.11000/- INR. Now, if these Rs 11000/- are to be projected as an intangible asset in balance sheet, what would be the rate of depreciation regarding intangible assets prescribed under Companies Act, 1956 as per section 205 and 350 of the said enactment regarding companies.
Can these expenses be treated as REVENUE in nature, and debited to P & L account.
Samir Bhatia
CA Student
JALANDHAR
CAclubindia
