depreciation on website
This query is : Resolved
19 April 2010
sir what is the rate of depreciation on website in accordance with income tax act & company act ?
19 April 2010
It can be claimed as revenue expenditure.
Citation:- CIT Vs Indian Visit.com (P) Ltd (2009) 176 Taxman 164(Del).
Court observed as follows:-
Since the purpose of creating a website is not to acquire an asset but to promote the business it is revenue expenditure.
Citation:- CIT Vs Indian Visit.com (P) Ltd (2009) 176 Taxman 164(Del).
Court observed as follows:-
Since the purpose of creating a website is not to acquire an asset but to promote the business it is revenue expenditure.
19 April 2010
U cant claim depreciation benifit on website expenses as per Income Tax Act as well as in Company Act, It is totally a revenue expenditure.
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