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Capitalisation of software

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(Querist)
05 September 2009 Whether software purchased for maintenance of accounts for Rs.22000 can be capitalised and depreciation claimed?
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
06 September 2009 Yes. The software can be capitalised and depreciation can be claimed @60%, keeping in mind the materiality of the amount wrt to the volume and size of the work.

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