Internally generated assets, other than goodwill, brands, mastheads, and publishing titles, can be recognized as intangible assets if:

They meet the recognition criteria of AS-26

Internally generated assets, other than goodwill, brands, mastheads, and publishing titles, can be recognized as intangible assets if they meet the recognition criteria specified in AS-26 (Accounting Standard 26). AS-26 provides specific criteria for recognizing intangible assets, and any internally generated asset must fulfill these criteria to be recognized. These criteria typically involve demonstrating that the asset meets certain conditions, such as identifibility, control, and the probability of generating future economic benefits. It is important to note that simply being used in the production or supply of goods or services, not having a physical existence is not sufficient criteria for recognition as an intangible asset. The recognition of internally generated assets as intangible assets is contingent upon meeting the specific recognition criteria outlined in AS-26.