08 June 2013
Upgradation of computer software and purchase of computer software are treated as fixed asset or revenue expenditure under finance act,2012?????
08 June 2013
upgradation of software , purchase of licences and purchase of computer software are intangeble assets,
therefore, expenditure incurred on purchase of software/upgradation software should have been capitalised and amortised over their estimated useful life as per AS 26,
Reference
opinion given by icai commitee http://220.227.161.86/eac/eacfinal/vol26/2.htm
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