Tally Software - Asset or Expense
This query is : Resolved
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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?
27 July 2020
it will be an Asset (can claim depreciation as its an intangible asset)
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 ?
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 ?
27 July 2020
Capitalise it as cost of laptop.
28 July 2020
Extended warranty purchased can be treated as revenue expenditure also.
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