Software development charges
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 April 2012
Ours is a partnership firm and have spent Rs 3.50 lakhs on software development. Should the same be capitalised or be treated as expense for the year
24 April 2012
Software development charges should be capitalized if the same has enhanced the operating efficiency and can be used for more than one year. Depreciation can be claimed on the same under Intangible Assets.
24 April 2012
YES AGREE WITH ABOVE EXPERT...
IT SHOULD BE CAPATILISED...
IT SHOULD BE CAPATILISED...
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