Larry Games Co. Ltd. engaged in medicine manufacture acquired on 22.11.2020 a patent from Andy Roberts by paying ₹100 lakhs. This enabled Larry Games Co. Ltd. to manufacture "Garner" a product for treatment of deadly con
CS Executive · Tax Laws · PYQS · June 2021
Larry Games Co. Ltd. engaged in medicine manufacture acquired on 22.11.2020 a patent from Andy Roberts by paying ₹100 lakhs. This enabled Larry Games Co. Ltd. to manufacture "Garner" a product for treatment of deadly contagious disease. How much is the eligible amount of depreciation on acquisition of patent ?
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax
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