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.
CAclubindia
