Web Site Cost
This query is : Resolved
25 November 2010
A company is building a site in order to provide information through its interactive website. It has incurred 50000 USD in building the site.Do we treat web site cost as Fixed asset or write it of as expenses or amortise over the period? if we depreciate it what would be the rate of depreciation? kindly suggest....
25 November 2010
For accounting purpose AS 26 may be followed.
For Income tax purpose treat the expenditure as revenue in view of the decision in CIT Vs. Indian Visit.Com (Pvt) Ltd(2009)176 Taxman 164 (Delhi).
For Income tax purpose treat the expenditure as revenue in view of the decision in CIT Vs. Indian Visit.Com (Pvt) Ltd(2009)176 Taxman 164 (Delhi).
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