Harshit acquired following intangible assets in his business during the financial year 2021-22. (1) On 25th June, 2021 he purchased goodwill of business: Cost of acquisition ₹50 crore (2) On 7th October, 2021 he purchase
CS Executive · Tax Laws · PYQS · December 2022
Harshit acquired following intangible assets in his business during the financial year 2021-22. (1) On 25th June, 2021 he purchased goodwill of business: Cost of acquisition ₹50 crore (2) On 7th October, 2021 he purchased Tenancy rights: Cost of acquisition ₹25 crore No other assets are in this block. Compute the allowed depreciation for assessment year 2022-23.
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax Act, 1961
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