Depreciation on capitalisation of website development charge

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Querist : Anonymous

Querist : Anonymous (Querist)

24 October 2012 Can anyone please help me in this. Should the above be capitalised or not.

If capitalised what is the depreciation to be provided and for how long.

If a company had already treated it as revenue, then is it possible to rewrite the returns and again submit it this time capitalising it?

The company is looking for a loan and hence wants to capitalise the same so as not to show it as a loss. But if the depreciation rate is high, the it may not make a difference. Am I right in my thinking. Any advice is welcome. Please help

What abt AS 26

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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24 October 2012 For accounting as well as income tax purposes it is a revenue expenditure.

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