Asset or expense

Hi  

I am agreed with you but

1. how we debriciate intangible assets as we paid monthly to godaddy for domain ?

2. How if some parts are purchased in december how we debriciate ?

3. How we debriciate UPS and batteries (means in how many years) which type of method we should use for debriciation ?

4.  We also purchased Web hosting service from GO daddy. Is this an expense or asset and under which head it can be classfied ?

Mr Kapil

1. First you tell me what type of Invoice they are raising when you pay monthly payment for Godaddy.

2. If you purchase spares in December you have to Add to Fixed Assets and take 5% of deprcn on that particular material u purchase.

3. For UPS & Batteries you have add those in the Electrical fittings Deprcn @ 10% as per standard format U/s IT Act

4. You are paying monthly means, if it is rent/contract you have to show as expenses

I think these r all suffice to you