CA RAMESH KUMAR AHUJA (CA, DISA, LLB) (5452 Points)
30 September 2008Discuss the Website Development cost, its hoisting cost and cost incurred on structural modifications.
Whether this is revenue or capital in nature?
If a fixed asset; Under which head the same may be booked?
The rate of depreciation under Income Tax and the Companies Act?
The realisable value of one's own site is always NIL then why the same is carried at a value?
S.Srinivasaraghavan
(Chief Financial Officer and Co)
(11318 Points)
Replied 01 October 2008
The accounting standards do not allow a cost to be carried forward unless the underlying asset/benefit is justifiably indicated.
CA Milap
(Chartered Accountant)
(25 Points)
Replied 08 July 2011
hi
I was in dilemna in treating website and website development under
which fixed asset category so that i could charge depreciation
accordingly on these assets.
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