Purchase ps domain

Jyoti Narang (Kkk) (1204 Points)

13 January 2022

if a teacher buy domain or software for teaching profession whether it is capital or revenue expenditure amount rs 10000.

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4 Replies

prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 13 January 2022

Software is intangible asset , therefore it is Capital Expenditure .

Jyoti Narang (Kkk) (1204 Points)
Replied 13 January 2022

So we have to charge depreciation on it.right

prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 13 January 2022

It's Amortization of Intangible Assets just like Depreciation , and Depreciation charged on Assets .

Jyoti Narang (Kkk) (1204 Points)
Replied 13 January 2022

It's 25%

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