10 July 2009
We have purchased Tally new version and other software so in what Head name it should be entered in books and what nature of this head ? and if assets then we can charge dep on it and if yes then in what rate? Thanks in advance
10 July 2009
Accounts : you should treat it as Intangible assest as per AS 26, and you should AMORTISE within 10 yrs...(as per As 26 you cant treat it as computer - so no 40% depn)
as per IT act depn caln ,computer and computer software shd be @ 60%
CAclubindia
