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Treatment of Computer Software

This query is : Resolved 
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(Querist)
29 June 2011 Please advise me in the following

1) Whether a new software purchased having life of say 5 years should be capitalized and depreciated at 60% ?

2) Can it be treated as Intangibles and depreciated at 25% ?

3) Can it be treated as revenue expenditure if amount of software is small ?
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Ravikant

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Ravikant (Expert)
29 June 2011 treated as Intangibles and depreciated at 25%

it can be treated as revenue expenditure if amount of software is small
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