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What will be heading

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(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
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NITIN

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NITIN (Expert)
10 July 2009 COmputer @ 60%
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CA Bosu babu

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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%
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MAHENDRA KUMAR BAGRECHA

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MAHENDRA KUMAR BAGRECHA (Expert)
10 July 2009 as per IT Act, @ 60% depn.
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