27 November 2012
Wether u/s. 32 depreciation is allowed on goodwill or not ? If it is acqired or purchase than ? Give also reference of case for the same .
27 November 2012
You can check the following points :-
* Goodwill purchased is an intangible asset and depreciation shall be allowed on it. * But, Depreciation on purchased goodwill shall be allowed only if it is purchased after 01-04-1981. * Depreciation shall NOT BE ALLOWED on Self generated goodwill. * Depreciation @ 25% (WDV) is allowed.
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