https://www.taxtmi.com/acts?id=41012 The Standard requires an enterprise to recognise an intangible asset only if it is identifiable, controlled and expected to generate probable future economic benefits and its cost can be measured reliably. Research phase expenditures are expensed; development phase costs are capitalised only if six criteria (including technical feasibility, intent, ability to use or sell, probable benefits, available resources and reliable cost measurement) are all satisfied. After initial recognition, intangibles are carried at cost less accumulated amortisation and impairment, with a rebuttable presumption that useful life will not exceed ten years. en-us Mon, 07 Nov 2022 10:30:20 +0530 Mon, 05 Jan 2026 16:07:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=41012 The Standard requires an enterprise to recognise an intangible asset only if it is identifiable, controlled and expected to generate probable future economic benefits and its cost can be measured reliably. Research phase expenditures are expensed; development phase costs are capitalised only if six criteria (including technical feasibility, intent, ability to use or sell, probable benefits, available resources and reliable cost measurement) are all satisfied. After initial recognition, intangibles are carried at cost less accumulated amortisation and impairment, with a rebuttable presumption that useful life will not exceed ten years. Act-Rules Companies Law Mon, 07 Nov 2022 10:30:20 +0530 https://www.taxtmi.com/acts?id=41012