capital or Revenue expenditure
GAUTAM TAGRA (Student CA Final ) (41 Points)
10 May 2018
company purchase a software, whether this is a revenue expenditure or capital expenditure?
9 Replies
Pardeep K. Sood
(I.Tax & Gst consultant (Regd.))
(87 Points)
Replied 10 May 2018
It is a capital expenditure but You can treat it as revenue expenditure also
Pardeep K. Sood
(I.Tax & Gst consultant (Regd.))
(87 Points)
Replied 10 May 2018
It is a capital expenditure but You can treat it as revenue expenditure also
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 10 May 2018
It's capital expenditure...
GAUTAM TAGRA
(Student CA Final )
(41 Points)
Replied 10 May 2018
whats about according to income tax act?
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 10 May 2018
What is the Billing for the Software....? Is GST bill...?
Vetrivel
(Chartered Accountant)
(27 Points)
Replied 10 May 2018
If the value is high, then it should be accounted as a Capital Item
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 10 May 2018
@ Mr. GAUTAM TAGRA .,
If GST bill then You ll book the Basic value under Fixed asset and Tax is under Input Credit*... As per Income tax You ll be book depreciation for the Basic Value...
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