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.
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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