https://www.taxtmi.com/acts?id=46094 Capital expenditure on acquisition of patent rights or copyrights used in business is amortised by applying an appropriate fraction (one over the number of relevant previous years) of the acquisition cost in each of a specified multi year period beginning with the year of expenditure (or business commencement). If rights end or are sold, tax consequences depend on whether sale proceeds equal, exceed, or are less than the unallowed acquisition cost, producing either denial of further deductions, an allowable deduction for the deficit, or chargeability of excess proceeds as business income; part disposals prorate remaining deductions over unexpired years. en-us Thu, 12 Dec 2024 15:00:06 +0530 Thu, 12 Dec 2024 16:34:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46094 Capital expenditure on acquisition of patent rights or copyrights used in business is amortised by applying an appropriate fraction (one over the number of relevant previous years) of the acquisition cost in each of a specified multi year period beginning with the year of expenditure (or business commencement). If rights end or are sold, tax consequences depend on whether sale proceeds equal, exceed, or are less than the unallowed acquisition cost, producing either denial of further deductions, an allowable deduction for the deficit, or chargeability of excess proceeds as business income; part disposals prorate remaining deductions over unexpired years. Act-Rules F. Acts / Amendment Acts Thu, 12 Dec 2024 15:00:06 +0530 https://www.taxtmi.com/acts?id=46094