Hello all
one public limited company has purchased trademark in March 2023, however not used the trademark during the FY 2022-23.
do we need to charge depreciation as per companies act 2013???
(asset acquired but not put to use)
Trademark is an Intangible Asset . Intangible assets are amortised not depreciated , therefore you have to refer IND AS 38 ( Intangible Assets) for Amortisation of an Intangible Asset Trade Mark. You have to show Trade Mark as an Intangible Asset , Asset side balance sheet .
CAclubindia
