Capitilized
This query is : Resolved
atul gupta
(Querist)
28 July 2011
in which head printer captilized
28 July 2011
Under the Head Computer as Fixed assets.
CA Sachin D Jain
(Expert)
29 July 2011
Dear Atul,
The question relates to which law. Companies Act, 1956 or Income Tax Act, 1961.
The question relates to which law. Companies Act, 1956 or Income Tax Act, 1961.
Praveen Sharma
(Expert)
29 July 2011
Both ones. Computer includes Computer items like computer software, Printer.
CA Sachin D Jain
(Expert)
29 July 2011
Dear Praveen,
Computer software are to be treated seperately under Companies Act, 1956 as intangible assets and are to be written off over a period of maximum upto five years.
Printer as already suggested by experts, is to be capitalised along with computer under companies act as well as under income tax act.
Computer software are to be treated seperately under Companies Act, 1956 as intangible assets and are to be written off over a period of maximum upto five years.
Printer as already suggested by experts, is to be capitalised along with computer under companies act as well as under income tax act.
29 July 2011
Under all the acts the Fixed Assets has to be capitalised.
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