Treatment of Software purchased
This query is : Resolved
Rabnoor Singh Khanna
(Querist)
23 July 2010
I have purchased Tally Software of Rs 13500 in a company. Whether it will fixed assets or indirect exp. If Fixed assets then what will be the Dep rate.
CMA Ramesh Krishnan
(Expert)
23 July 2010
It can be Capitalised and depreciate 16.21% as per companies act
Rabnoor Singh Khanna
(Querist)
24 July 2010
According to you I have to depreciate on SLM basis. May I know the reason behind it.
Ca Aashish Upadhyay
(Expert)
25 July 2010
Please treat is as expenses as the software of TALLY is required to be renewed each year!
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