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Treatment of Software purchased

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(Querist)
23 July 2010 I have purchased Tally Software of Rs 13500 in a company. Whether it will fixed assets or indirect exp. If Fixed assets then what will be the Dep rate.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
23 July 2010 It can be Capitalised and depreciate 16.21% as per companies act
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Rabnoor Singh Khanna

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Rabnoor Singh Khanna (Querist)
24 July 2010 According to you I have to depreciate on SLM basis. May I know the reason behind it.
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Ca Aashish Upadhyay

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Ca Aashish Upadhyay (Expert)
25 July 2010 Please treat is as expenses as the software of TALLY is required to be renewed each year!

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