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Income Tax - Highlights / Catch Notes

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Allowability of software expenses - revenue or capital ...

Income Tax

November 25, 2017

Allowability of software expenses - revenue or capital expenditure - purchase of software for Website related application for LAN. - held as capital expenditure - depreciation to be allowed - AT

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

  2. Capital or Revenue expenses – The number of entries for purchase of software tools is running into 170 - thus, the expenditure incurred by the assessee was revenue in...

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

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

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

  7. Nature of purchase of software - software purchased by assessee for ultimate export either as embedded software or as part of project undertaken by it cannot be...

  8. Internet/web site expenses - Capital v/s Revenue - internet/website expenses incurred by the assessee are revenue in nature - AT

  9. Foreign travelling expenses incurred for purchase of Machinery from outside India cannot be treated as Capital Expenditure rather treated as Revenue Expenditure only for...

  10. Treatment of special bonus expenses u/s 37(1) – the shareholders agreement is the basic document for determining the allowability or otherwise of the expenditure...

 

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