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Regarding LLP logo( trade mark)

Venu Gowda (55 Points)

15 October 2021  
dear sir,

1.. wt is the useful life of the logo( trade mark )??? and dep rate???

 5 Replies

prasad Nilugal (Sr . Accountant and GST Practitioner . )   (7017 Points)
Replied 15 October 2021

Since Depreciation  as per  Companies  Act  not  applicable to  LLP  , please refer  Depreciation  rate  as per Income  rules  1961 . I think  its 25% please confirm , also confirm use life .  

Venu Gowda (55 Points)
Replied 15 October 2021

Tq u soo much sir

prasad Nilugal (Sr . Accountant and GST Practitioner . )   (7017 Points)
Replied 15 October 2021

please confirm from Income Tax rules 1962 . 

Venu Gowda (55 Points)
Replied 15 October 2021

As per 1961 act, dep rate is 25%

prasad Nilugal (Sr . Accountant and GST Practitioner . )   (7017 Points)
Replied 15 October 2021

As per section 67 of the LLP Act 2008 , certain provisions of companies act are applicable to LLP , so you have confirm that whether shedule 2 of companies act 2013 , is applicable or not , shedule 2 is for Depreciation . I think it's not applicable but please confirm .

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