copyrights
This query is : Open
19 December 2009
CAN COPYRIGHT OF MOVIES AND SONGS GENERATED/PURCHASED DURING THE YEAR BE AMORTISED OR/WRITTEN OFF IN THE SAME PREVIOUS YEAR AS PER INCOME TAX ACT, 1961.
PLS PROVIDE JUDICIAL CASE LAWS(IF ANY) AND RELEVANT PROVISIONS REGARDING THE SAME.
PLS PROVIDE JUDICIAL CASE LAWS(IF ANY) AND RELEVANT PROVISIONS REGARDING THE SAME.
20 December 2009
Refer to section 32(1)(ii) of the Income-tax Act. As per this section the assessee can claim depreciation on the cost of copyright owned and used by the assessee.The rate of depreciation prescribed is 25% on WDV basis.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- Not a CA , can we prepare balance sheet
- Valuation of diamonds as on 01.04.2001
- What is meaning of merging of expenses or income in accounts
- Accounting treatment of write off sundry debtors
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
