KNOW HOW
This query is : Resolved
Guest
Guest
(Querist)
14 October 2010
A Pvt.Ltd. co. has paid 2,50,000.00 Rs for "Know How" to ONGC Corp.
Q1-What will the treatment of "Know How" in the books of Co.According to Income Tax.
Q1-What will the treatment of "Know How" in the books of Co.According to Income Tax.
15 October 2010
Know how is an intangible asset as per part B of Appendix-1 of rule-5 of Income tax Rules,1962 and hence can be accounted as such on which depreciation can be claimed @ 25 %.
Guest
Guest
(Querist)
15 October 2010
What will be treatment of "Know How" according to Companies Act?
17 October 2010
Treatment will be as per AS 26 Intangible Assets.
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
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- 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
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
