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Tally Software - Asset or Expense

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(Querist)
27 July 2020 i have purchased Tally Software for INR 13k. Whether it will be an Asset (can claim depreciation as its an intangible asset) or its a spend to be charged to P&L?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
27 July 2020 it will be an Asset (can claim depreciation as its an intangible asset)
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CA. Aditya Goel

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CA. Aditya Goel (Querist)
27 July 2020 Thanks
Also what about the additional warranty purchased for laptop ?
Purchased laptop on 1st July
Today purchased extended warranty for 4K
Can I capitalise it as well with the cost of laptop or should charge it to P&L ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
27 July 2020 Capitalise it as cost of laptop.
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CA KARAN SINGH

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CA KARAN SINGH (Expert)
28 July 2020 Extended warranty purchased can be treated as revenue expenditure also.
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