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Tally purchase

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155 Points Posted on 19 June 2018

how to account cost of installation New tally erp 9 ?

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On 19 June 2018 at 17:49 Report
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Chartered Accountant
4524 Points Posted on 19 June 2018
capitalize in books of account as intangible assets eligible to claim depreciation @ 25%
Accounting entry
Assets A/c __________Dr
To Software Co.______Cr

(Being software purchased)

Software Co. A/c ____Dr
To Cash / Bank A/c __Cr

(Being payment against Invoice)
25 Reply
On 19 June 2018 at 18:01
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Final Student of ICAI
1764 Points Posted on 19 June 2018
If you wish to take GST credit, you have to account it separately under current Assets.
4 Reply
On 19 June 2018 at 19:01
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Chartered Accountant
2195 Points Posted on 19 June 2018
Assets A/c __________Dr
To Software Co.______Cr

(Being software purchased)

Software Co. A/c ____Dr
To Cash / Bank A/c __Cr

(Being payment against Invoice)
8 Reply
On 19 June 2018 at 19:16
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"Do the Right Thing...!!!"
128147 Points Posted on 19 June 2018

Is depreciation @ 25% or @ 40% (AY 2018-19)....?

463 Reply
On 19 June 2018 at 19:47
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24196 Points Posted on 19 June 2018
Depreciation Rates of computer software for AY 2018-19 as per Income Tax Act is 40%


Computer software means any computer program recorded on any disc, tape, perforated media or other information storage device.
161 Reply
On 19 June 2018 at 23:55


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