depreciation category
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 May 2011
An ERP Software has been purchased by the company and it is to be capitalised. Now will it be depreciated under category of computers or under intangible asset .
23 May 2011
In view of the Madras high court decision in the case of CIT V SOUTHEREN ROADWAYS LTD (2008)304 ITR 84 software purchased can be treated as revenue expenditure. On the other hand ,if decided to capitalize group in 'computer including computer softwares'.
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