Hello Freinds, My company want to use a customized software for the purpose of making the business in line. for that purpose company has made an agreement/contract with the software company w.e.f. Nov. 2015 that their software developer will make an customized software for a compnay and they (software developer) have to provide necessary guidance on the same during the customization of the software. As the software still in the process, we have shown them under WIP. My ? is now in 31/03/2016, can we claim a depreciation on software. A bill raised by software company showing that they have provided a neccesary guidance as a consulting fees, whether TDS has to be deducted under which section whether contact or Professional fees. where the Software will be appearing in the balance sheet.
CAclubindia
