purchasing of software more than Rs.8000/- will be treated as
expense or assets
Answers were Sorted based on User's Feedback
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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