What will be heading
This query is : Resolved
Surender Singh
(Querist)
10 July 2009
We have purchased Tally new version and other software so in what Head name it should be entered in books and what nature of this head ? and if assets then we can charge dep on it and if yes then in what rate? Thanks in advance
CA Bosu babu
(Expert)
10 July 2009
Accounts : you should treat it as Intangible assest as per AS 26, and you should AMORTISE within 10 yrs...(as per As 26 you cant treat it as computer - so no 40% depn)
as per IT act depn caln ,computer and computer software shd be @ 60%
as per IT act depn caln ,computer and computer software shd be @ 60%
10 July 2009
as per IT Act, @ 60% depn.
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