https://www.taxtmi.com/forum/issue?id=109308 Goodwill, being the reputation of a business, is an intangible asset; internally generated goodwill is not recognised, while purchased goodwill may be capitalised and depreciated or amortised in accordance with the applicable accounting standard for intangible assets. Other intangible items include trademarks, patents, copyrights and business networks, and allocation of value among these items is driven by management judgement consistent with the valuation norms in the accounting standard. en-us Tue, 20 Oct 2015 12:09:56 +0530 Thu, 23 Jan 2025 15:56:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=109308 Goodwill, being the reputation of a business, is an intangible asset; internally generated goodwill is not recognised, while purchased goodwill may be capitalised and depreciated or amortised in accordance with the applicable accounting standard for intangible assets. Other intangible items include trademarks, patents, copyrights and business networks, and allocation of value among these items is driven by management judgement consistent with the valuation norms in the accounting standard. Discussion-Forum Companies Law Tue, 20 Oct 2015 12:09:56 +0530 https://www.taxtmi.com/forum/issue?id=109308