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Expense Or capitalise

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RAKESH (Querist)
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30 June 2021 We have purchases tally software. It is to be capitalised Or exp. Pls reason to be specified.

CMA Poornima Madhava

CMA Poornima Madhava (Expert)
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30 June 2021 To capitalize initial purchase and to expense yearly subscription.

RAKESH (Querist)
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30 June 2021 What will be the useful life. And it is capitalise under head computer in fixed asset.?

Deepa B (Expert)
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01 July 2021 Useful life of 3-5 years as per AS-26 Intangible assets. Software will be classified as intangible assets

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