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Web Site Cost

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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....
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
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).
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