Sir, If an I.T. Firm purchase a new web software and mobile app from some other I.T. software vendor then the cost of purchase is a fixed asset or a revenue expenditure for purchaser in their books of account. If it is fixed asset then what is the rate of depreciation?
Menu
Treatment of purchase of a web software and mobile app in account books
Replies (3)
Software a part of Fixed Assets i.e. Capital Expenditure and Rate of Depreciation is 40%.
Sir I am purchase tally prime software from tally vendors it is fixed assets or software expenses ??
tell me sir
It's an intangible asset under fixed asset and treat it accordingly as per AS standard. Amortisation is applicable.
Recent Topics :
- Chhath Puja 2026 Dates Timing Tithi
- Tax Benefit on Second Property
- IPO application checklist: 18 rules that decide wh
- NSE IPO Price, GMP, Allotment Date and Listing
- Gst tax rate
- Cash deposited by customer
- CAPITAL GAIN REG
- Built a simple tool to automate client document fo
- Capital Gain on Sale of SRA Allotted Flat Received
- Discrepancy in Auto populated figures in GSTR1 of
Related Topics :
CAclubindia
