23 December 2011
suppose the company purchased a software ( saral payback premium - v5 - (2011 -2012) for Rs. 5500. Is this software is to be treated as asset or to be treated as revenue exp. and allowed under income tax act ?
23 December 2011
If only license of the software is purchased and you need to renew the licence every year then it is a revenue expenses and hence to be charged to the P & L A/c.
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