Treatment of purchase of accounting software
This query is : Resolved
26 April 2012
Respected Members,
My aseesee has purchased an accounting Software in year 2011-12 for Rs. 80000/-. Can he Charge it as the revenue Expenditure? and can you please give me the reason for such treatment.
shyamsingh d rajput
My aseesee has purchased an accounting Software in year 2011-12 for Rs. 80000/-. Can he Charge it as the revenue Expenditure? and can you please give me the reason for such treatment.
shyamsingh d rajput
26 April 2012
It is intangible fixed asset. So it is not charge as revenue expenditure. However you will be eligible to deduction on it. As per it act the ROD is 60%.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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26 April 2012
Vexed issue. Please decide after reading the decisions in http://www.cainindia.org/news/3_2008/expenditure_on_software_is_of_revenue_nature_special_bench.html
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