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Purchase of software

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(Querist)
03 September 2011 our client has purchased computer software of Rs150000. whether it should be claimed as revenue expenditure or be shown as an fixed asset with tax benefit on depreciation.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
03 September 2011 Need to be capitalised and claim depreciation accordingly. Incase the life of the software 1 year then you can debit entirely as revenue expenses
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