29 May 2020
Dear Sirs I am a retired chemical engineer and I just started using a bookkeeping software for my business accounting. I have a query.
I purchased a website of my own by paying Rs 5000 to Godaddy.com. Also I paid Rs 20000 for developing the contents of the website. Some of the 5000 Rs will be good for 2 years after which annual renewals and payments will be required to keep my website alive. I am registered with GST also.
1. How should I show this in the accounting books. with regard to each of the payments. 2. How much depreciation is to be taken as per existing rules.
CAclubindia
