Tds on software
This query is : Resolved
CA Sahil Singla..
(Querist)
15 May 2012
Sir
A manufacturing co. purchased software from a Non resident & sold the same in India in same financial year. No tds was deducted on such payment to Non resident. Whether it is allowed as expense ?
A manufacturing co. purchased software from a Non resident & sold the same in India in same financial year. No tds was deducted on such payment to Non resident. Whether it is allowed as expense ?
CA PARAS BAFNA
(Expert)
15 May 2012
As per Section 40(i) non deduction of TDS makes the expenditure as disallowable.
.
In Section 9(1)(i) Explanation 4. has been inserted now to settle the issue. Payment for software can be treated as royalty, which attracts TDS provisions.
.
.
In Section 9(1)(i) Explanation 4. has been inserted now to settle the issue. Payment for software can be treated as royalty, which attracts TDS provisions.
.
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