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Fixed asset

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Guest

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Guest (Querist)
26 July 2012 Can expenditure for development of a website be capitalised as computer software and what should be the depreciation rate?
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Amol S Joglekar

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Amol S Joglekar (Expert)
26 July 2012 Normally NO. The question of this sort has been answered by many tribunals. Enduring benefits do not extend beyond one year is the normal reasoning.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
26 July 2012 No, because it is a revenue expenditure vide decision in the case of India Visit.com P Ltd reported in 176 Taxman 164.
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CA BHARATH KUMAR

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CA BHARATH KUMAR (Expert)
26 July 2012 no this is revenue expenditure

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