Can the License fees for Tally software be treated as an operating expense or else it should be capitalised with the cost of the asset.
In this case License fees was paid for upgradation of existing license i.e.,Tally 9 to Tally ERP 9
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Treatment of license fees
Replies (2)
Debit the expense to Profit and Loss A/c. But if it prepaid then you will have to show it under the group Current Assets.
Regards,
Devendra Kulkarni
In my opinion it should be capitalised
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