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treatment of purchase of computer accounting software.

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(Querist)
08 June 2010 can sugest me how to treat the same in this condition if i purchase a software of Rs 13000 and amc of software is Rs 6000.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
08 June 2010 YOU HAVE TO CAPITALIZED RS. 13000 AS SOFTWARE AND CLAIM DEP . AMC CHARGES IS TO BE CLAIMED AS REVENUE EXP AS SOFTWARE MAINTAINANCE CHARGES.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
08 June 2010 AGREE. ALSO DEDUCT TDS ON AMC CHARGES.
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manmohan

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manmohan (Querist)
08 June 2010 what dep rate is apply in this condition
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
08 June 2010 40% as per companies act,
60% as per IT Act.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
08 June 2010 depreciation rate is as per company act 40% and as per income tax act 60% as like computer
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