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is we purchase any software like installation of MS Windows
do we need to capitalize it or post it under head repair &
maintenance A/c?
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Answer Posted / dipinder kaur
cost of new software(if forming indispensible part of asset) if bought along with computer should added to computer's cost n thus both to be capitalized.If bought separately then also it should be capitalized.BUT if it is a routine activity to renew the software every year,then it should be debited to p&l account.AND in case of companies,software bought below rs. 5,000 can be 100% depreciated after being capitalized.
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