Treatment of purchase of web domain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 December 2010
hi.....
please let me know the treatment of purchase of web domain in the books of accounts...whether to capitalize it or whether to expense it out???????????
please let me know the treatment of purchase of web domain in the books of accounts...whether to capitalize it or whether to expense it out???????????
24 December 2010
The nature is like licence fees, it has to be amortized as expenditure. The nature is like deffered expenditure.
24 December 2010
Cost of web domain is an intangible asset to be capitalized and depreciated @ 25 % for income tax purposes.
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 December 2010
sir would the treatment be dependent on the frequency of payments??????
I mean,
1. what if we pay for it at regular intervals in an year then shall it be treated as an expense,
2.what if we pay for it once a year i.e. renewal
I mean,
1. what if we pay for it at regular intervals in an year then shall it be treated as an expense,
2.what if we pay for it once a year i.e. renewal
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