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purchasing of software more than Rs.8000/- will be treated as
expense or assets
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Answer Posted / 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)
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