Depreciation on goodwill
This query is : Resolved
20 April 2012
Sir
I want to know whether goodwill is eligible for depreciation as per income tax act 1961 at what percentage please clarify
I want to know whether goodwill is eligible for depreciation as per income tax act 1961 at what percentage please clarify
20 April 2012
No it is not as it is not a fixed assets it is intangible asset and it is to be recovered from the incoming partner or to be borne by the exiting partners
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