banner_ad

Treatment of accounting software

This query is : Resolved 
Profile Image

Profile Image

(Querist)
08 August 2011 Busy software purchased for rs. 7256.
It is intangible asset or tangible asset(computer &peripherals or expenses

thanks in advance
Profile Image

PRAMOD PANDIT M.COM , CA FINAL

Profile Image

PRAMOD PANDIT M.COM , CA FINAL (Expert)
08 August 2011 If it has separate identity then it must intangible asset.
if it not sepretable like added or available only with some hardware like inbuilt in computer then it is tangible!

as per GAPP . Software can be added in computer & peripheral
and most of the company below 5000 asset treated as revenue expenditure so you can capitalised it. And charged dep@60% on computer as per I.T. Or 25% as intangible asset
Profile Image

C A S.S.Agarwal, M.Com.,LL.B,

Profile Image

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
08 August 2011 I agree with the expert but if the ownership and benefit is for more than 2 years then it is a capital assets or otherwise it is a revenue expenditure.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details