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Treatment of software purchase

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(Querist)
12 May 2020 we have purchase tds software and this can be renew every year and update accordingly, how can we treat it in books by taking it as revenue expense or treat as intangible asset. the value of software is 38000/- only, Suggest?
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
12 May 2020 Seems 'revenue expenditure' , since it is an application software.
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Spurto Consultancy Services

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Spurto Consultancy Services (Expert)
12 May 2020 It has been decided in various case laws that purchase of application Software can be treated as revenue expenditure.
TDS software can be categorised as application software.
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
14 May 2020 Yes it will be taken as Revenue Expenses and will be debited to Profit and Loss Account for the said F.Y.
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