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Regarding LLP logo( trade mark)

Venu Gowda (93 Points)

15 October 2021

dear sir,

1.. wt is the useful life of the logo( trade mark )??? and dep rate???

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5 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 15 October 2021

Since Depreciation as per Companies Act not applicable to LLP , please refer Depreciation rate as per Income rules 1961 . I think its 25% please confirm , also confirm use life .

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Venu Gowda (93 Points)
Replied 15 October 2021

Tq u soo much sir

prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 15 October 2021

please confirm from Income Tax rules 1962 .

Venu Gowda (93 Points)
Replied 15 October 2021

As per 1961 act, dep rate is 25%

prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 15 October 2021

As per section 67 of the LLP Act 2008 , certain provisions of companies act are applicable to LLP , so you have confirm that whether shedule 2 of companies act 2013 , is applicable or not , shedule 2 is for Depreciation . I think it's not applicable but please confirm .