License Fees
This query is : Resolved
06 November 2010
Hi,
If i have paid License fees for a software. Should it be capitalized or not?
Similary if cost incurred on purchase of memory card for a PC. Should it be capitalized or not?
If i have paid License fees for a software. Should it be capitalized or not?
Similary if cost incurred on purchase of memory card for a PC. Should it be capitalized or not?
07 November 2010
Appendix-1 ,Part B,to rule 5 of Income tax rules,1962 says Licences are "intangible assets". In view of that, it can be capitalized for income tax purposes and can be depreciated @ 25% per annum.
09 November 2010
License fees to be capitalised.
What is memory card iam not clear.If it is in the nature of RAM, it should be capitalised.
What is memory card iam not clear.If it is in the nature of RAM, it should be capitalised.
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