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Tally software purchased: exp.or asset?

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(Querist)
16 March 2020 Dear expert,
Tell me tally software purchased is expense or fixed asset?
If asset then depreciation allowed as per IT act?
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Gokul Sharma

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Gokul Sharma (Expert)
16 March 2020 YES ITS A SOFTWARE SHOULD BE CAPITALISED UNDER COMPUTER AND SOFTWARES.
YES IT DEP AVAILABLE.

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