CS Professional · Advanced Direct Tax Laws and Practice · Transfer Pricing and General Anti Avoidance Rules (GAAR)
Under section 163 of the Income-tax Act, 2025, which of the following is expressly included in the meaning of 'intangible property'?
Customer lists and customer contracts are expressly included as intangible property, under customer related intangible assets. Plant, machinery and buildings are tangible property, and marketable securities are covered as capital financing, not intangibles.
- ACustomer lists and customer contractsCorrect
- BPlant and machinery
- CMarketable securities held as stock-in-trade
- DBuilding used as a factory
Explanation
Section 163(3)(f) lists customer related intangible assets such as customer lists, customer contracts and customer relationship. Plant, machinery and buildings are tangible property under section 163(1)(a), and marketable securities fall under capital financing.
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