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ACCOUNTING TREATMENT OF SOFTWARE

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(Querist)
21 April 2009 WE HAVE INSTALLED LICENCED VERSION OF MICRO SOFT WINDOWS XP IN OUR COMPUTERS. MY QUERY IS HOW TO WRITE OFF THE EXPENDITURE INCURRED IN THIS INSTALLATION? DO THESE NEED TO BE AMORTISED ?
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
21 April 2009 This expense os not of revenue nature so it should be deferred over a period of its useful life. may be taken as 5 years.
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
21 April 2009 Software is a fixed asset, you can charge depreciation on it.
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
21 April 2009 Software is a fixed asset, you can charge depreciation on it.
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
21 April 2009 capitalise it and write off as per life or as write off in 5 years unless some what long period is justified
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