08 August 2011
If it has separate identity then it must intangible asset. if it not sepretable like added or available only with some hardware like inbuilt in computer then it is tangible!
as per GAPP . Software can be added in computer & peripheral and most of the company below 5000 asset treated as revenue expenditure so you can capitalised it. And charged dep@60% on computer as per I.T. Or 25% as intangible asset
08 August 2011
I agree with the expert but if the ownership and benefit is for more than 2 years then it is a capital assets or otherwise it is a revenue expenditure.