Software
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 July 2010
Hi
Can any one tell if C.A. firm purchase any software like Spectrum or Kitrit for income tax purpose then it will be call exp. or asset?
Can any one tell if C.A. firm purchase any software like Spectrum or Kitrit for income tax purpose then it will be call exp. or asset?
11 July 2010
its a revenue expenses only.
11 July 2010
The payment of such application software,though there is an enduring benefit, does not result in acquisition of a capital asset and it merely enhances the productivity or efficiency and hence, has to be treated as revenue expenditure.
Citation :- CIT Vs. Southern Roadways Ltd (2008) 304 ITR 84 (Mad).
Citation :- CIT Vs. Southern Roadways Ltd (2008) 304 ITR 84 (Mad).
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