Treatment of accounting software
This query is : Resolved
08 August 2011
Busy software purchased for rs. 7256.
It is intangible asset or tangible asset(computer &peripherals or expenses
thanks in advance
It is intangible asset or tangible asset(computer &peripherals or expenses
thanks in advance
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
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
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- ADVANCE PAYMENT OF ADVOCATE
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- Invertaded duty struture
- Capital gain on sale and purchase of plot
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
