Capitalisation of software
This query is : Resolved
17 August 2011
Hi,
As everyone knows that there are 3 kind of Software and they are as follows:
1. Programming Software
2. Application Software
3. System Software
Can anyone tell which is to be capitalised and which has to be treated as Revenue Expenditure????? Please help me its really urgent
As everyone knows that there are 3 kind of Software and they are as follows:
1. Programming Software
2. Application Software
3. System Software
Can anyone tell which is to be capitalised and which has to be treated as Revenue Expenditure????? Please help me its really urgent
17 August 2011
if these software provide the future benefit due to there use for more than one year then should be capitalised
17 August 2011
If the expenses are incurred for 'replacement of soft ware' all the three can be expensed out.
Citation :- CIT Vs. Southern Roadways Ltd (2008) 304 ITR 84(Mad).
Citation :- CIT Vs. Southern Roadways Ltd (2008) 304 ITR 84(Mad).
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