I am preparing one balance sheet of fuel station company for the fy 2021-22.
they paid licences fee 50 lakh. on jan 2022.
my dought is, wt is the useful life of the intangible assets as per company act.
as per it act 25% .
as per company act wt is the useful life of intangible asests and what is the rate of depreciation. to calculate amortization
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Regarding Life if intangible assest
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For Amortization of an Intangible Assets , ( useful life , rate of amortization , Calculations ) you have to. refer Shedule II of the Companies Act 2013 .
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