Gaurav Arora (DGM (Administration & Accounts)) (29 Points)
29 January 2019Sir, If an I.T. Firm purchase a new web software and mobile app from some other I.T. software vendor then the cost of purchase is a fixed asset or a revenue expenditure for purchaser in their books of account. If it is fixed asset then what is the rate of depreciation?
U.K. BHATIA
(Taxation Officer)
(102 Points)
Replied 29 January 2019
Software a part of Fixed Assets i.e. Capital Expenditure and Rate of Depreciation is 40%.
Manoj Kumar Hiralal Tailor
(2 Points)
Replied 25 October 2021
Sir I am purchase tally prime software from tally vendors it is fixed assets or software expenses ??
tell me sir
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
CAclubindia
