how to account cost of installation New tally erp 9 ?
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Tally purchase
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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)
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)
If you wish to take GST credit, you have to account it separately under current Assets.
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)
To Software Co.______Cr
(Being software purchased)
Software Co. A/c ____Dr
To Cash / Bank A/c __Cr
(Being payment against Invoice)
Is depreciation @ 25% or @ 40% (AY 2018-19)....?
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.
Computer software means any computer program recorded on any disc, tape, perforated media or other information storage device.
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