06 November 2009
my client (an interior designer) has incurred expenditure of Rs. 5 Lakh on development of portal. In income tax, it will be treated as intangible assets and will be eligible for depreiation @ of 25%. As per As-26 what should be treament in books of accounts. Can we decide to write off in less than 10 years. or is their any other treatment.
Guest
Guest
(Expert)
10 November 2009
AS 26 allowed you to capitalize the expenditure incurred to develop a website.
You have to amortize the expenditure within 10 years.
CAclubindia
