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DEPRECIATION ON SOFTWARE ERP

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(Querist)
15 April 2010 DEAR ALL,
WE HAVE INSTALLED A ERP SOFTWARE IN OUR COMPANY. FOR WHICH WE HAVE PAID SOFTWARE DEVELOPMENT , MAINTAINANCE, IMPLEMENTAION CHARGES WHICH IS Rs. 600000 at intial and afterward Rs.20000 pm. for 2 years.
Please advise whether it is to be capitalized or expensed.
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
15 April 2010 Software expense should be capitalise and recurring exp should be charge to P&L
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
15 April 2010 agree with somaniji
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Querist)
16 April 2010 tHANKS FOR REPLY. I HAVE ALSO CAPITLIZED INTIAL AMOUNT ONLY, RECURRING AMOUNT IS EXPENSES.

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