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Capitalisation of software expenses

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(Querist)
17 December 2013 I wanted to know if we have incurred computer software expenses during the year, whether it could be capitalised? Our tution sir said that according to sec 9 of finance act 2012, these cant be capitalised.
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
17 December 2013 AS 26 shall apply in this regard, whether you have purchased or created by yourself u havent mentioned as on this it will be decided whether to capitalise or not.
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CA MAYANK SHARMA

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CA MAYANK SHARMA (Querist)
17 December 2013 iI have purchased it for Rs.800000/- . Please mention treatment both IT and acccounts purposes
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
17 December 2013 Then u need to fully capitalise it as per as 26 accounting treatment and same treatment for income tax also as there is no sep treatment in it for this.
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