treatment of purchase of computer accounting software.
This query is : Resolved
08 June 2010
can sugest me how to treat the same in this condition if i purchase a software of Rs 13000 and amc of software is Rs 6000.
08 June 2010
YOU HAVE TO CAPITALIZED RS. 13000 AS SOFTWARE AND CLAIM DEP . AMC CHARGES IS TO BE CLAIMED AS REVENUE EXP AS SOFTWARE MAINTAINANCE CHARGES.
08 June 2010
AGREE. ALSO DEDUCT TDS ON AMC CHARGES.
08 June 2010
40% as per companies act,
60% as per IT Act.
60% as per IT Act.
08 June 2010
depreciation rate is as per company act 40% and as per income tax act 60% as like computer
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