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purchasing of software more than Rs.8000/- will be treated as
expense or assets
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Answer / bijay
as per company need.buy software is an assets for your
company of taking as 60%WDV deprication
| Is This Answer Correct ? | 12 Yes | 2 No |
Answer / rahim khan
It will be treat as expenses because it is not capitalize
| Is This Answer Correct ? | 9 Yes | 3 No |
Answer / sandeep_mishra19
if software increase economic benefit for company it must be treated as asset otherwise it is an expense,
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / jagadish.r
Its an asset comes under the head fixed assets.
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / venkatreddy
sowft ware is asset
entry :
saftwere a/c dr
cash a/c
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / balu
The company development depends by the using of that
software it will treat "Asset" other wise Expenses.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / h.r. sreepada bhagi
Any asset purchased should capitalised. Those assets valued up to Rs. 5000/- can be depreciated 100% in the year of purchase & assets of higher value should be depreciated as per the Companies Act, 1956 for Companies and for Income Tax purposes as per the Income Tax Act (in India)
| Is This Answer Correct ? | 0 Yes | 0 No |
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Audit 
