Goodwill

This query is : Resolved 

18 March 2011 Pl inform, One can charge depreciation on Goowilll if yes then what is the percentage?

18 March 2011 Depreciation cannot be charged on Goodwill

18 March 2011 according to AS-14 goodwill can be amortize in 5 year.


19 March 2011 Goodwill can be depreciated under section 32(ii) of the Income tax Act,1961,being an intangible asset.
Decision of Delhi High Court dated 14/1/2011 in the case of Hindustan coca-Cola Beverage may be referred to.
Rate is 25% as per Appenidx-1,part B of rule 5 of Income tax Rules,1962.



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