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Income Tax - Highlights / Catch Notes

Home Highlights March 2017 Year 2017 This

Expenditure of software stock and maintenance charges is ...

Income Tax

March 6, 2017

Expenditure of software stock and maintenance charges is required to be treated and / or considered as revenue expenditure and not as capital expenditure - HC

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  1. Management, Maintenance or Repair services in respect of SAP software - while canned software can be treated as goods the customer specific software would be classified...

  2. Revenue expenditure versus capital expenditure - expenditure incurred on ERP Software – allowed as revenue expenditure - AT

  3. Software expenses - revenue or capital expenditure - real intent and purpose - expenditure incurred by the assessee on software is allowable as revenue expenditure. - AT

  4. Software consumable expenses – The expenditure was incurred for application software and not for system software – The software was not of enduring nature and would...

  5. Software development expenditure which was application software was revenue in nature - deduction allowed u/s 37.

  6. Media cost for import of software - Capital expenditure or revenue - Software used for duplication and licensing - expenses allowed as revenue expenditure - HC

  7. Management, Maintenance or Repair Service - Software Services Agreement - repair and maintenance of software - stay granted - AT

  8. Software expenses - revenue v/s capital expenditure - software may be needed like raw material - computer software expenses were revenue in nature - HC

  9. Disallowance of software expenses - revenue or capital expenditure - payment was made for maintenance/hosting services not resulted in any enduring benefit and there was...

  10. Software expenditure having enduring benefit of not more than a year is revenue expenditure

 

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