What is the treatement of amount spent on website development in the Income tax act?
Is it a intangible asset or revenue expenditure?
Please mention relevent section\rule and decide case law.
Thanks in advance.
Mukesh Kumar (CA STUDENT) (58 Points)
25 April 2012What is the treatement of amount spent on website development in the Income tax act?
Is it a intangible asset or revenue expenditure?
Please mention relevent section\rule and decide case law.
Thanks in advance.
Giridhar S Karandikar
(Team Lead)
(7543 Points)
Replied 25 April 2012
As per the below case law expenditure on website deveploment shall be considered as a revenue expenditure
.https://taxworry.com/itat-website-development-cost-is-intangible-asset/
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(with recording)