Ours is a Pvt Ltd Co
We have incurred cost = Rs. 1,50,000/- for Co.'s Website Designing.
Should it be treated as Fixed Assets or Expenses chargeable to P/L a/c.
If Fixed Assets, then what would be Rate of Depreication as per Companies Act & Income Tax Act.
Experts: Kindly advice. Thanks in Advance.
Refer AS-26 on intangible asset. Website development charges are is to be amortised in 5 years. this is not Fixed Asset.
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
