can any one solve my query as given below ?
we have purchase e-tds software, my question is that can we take depriciation / amortization ?
regards
Nilesh
4 Replies
HARISH BANSAL
(student)
(229 Points)
Replied 12 September 2012
First tell me Whether it is only for 1 year Or u can use it for more than 1 year ?If it is for only 1 year & u have to make payment every year then u can Debit it in P&l Account. And if u can use the software for more than 1 year without every year Payment then u can show it ur Intangible Asset, And after it u can Claim Dep on Intangible Assest .
NILESH PRAJAPATI
(EXECUTIVE ACCOUNTS)
(66 Points)
Replied 12 September 2012
we have taken this software for 1 year payment but we will update this software in next year with paying updation charges.
Bhaskar Unnikrishnan CPA CMA
(Accounts / Administration)
(414 Points)
Replied 12 September 2012
If you use this software by paying fixed subscriptttion every year, better transfer to P&L rather than Intangible Asset.
HARISH BANSAL
(student)
(229 Points)
Replied 12 September 2012
Yes, Agree with Mr. Bhaskar Unnikrishnan
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