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06 December 2013 1. Website Development Exp. Rs.85000

2. Mat Credit

3. Depreciation fund

4. Bank OD


where to be shown in PL and BS

06 December 2013 1. Dr side p&l
2. Cr side p&l (refer as-22) and bal in Bal asset side under Deferred tax asset.
3.reserves in bal sheet
4.current liabilities - if the [period for payable is less then a year)

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06 December 2013 Thanks

Sir can we treat the website development expense as Deferred revenue expenditure
and distribute its over several years ?



06 December 2013 yes it is allowed but take 5 years for amortization of such exp as given in AS-26.


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