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Please Help: Related to Accounts

Posted Date : 21-Jan-2015 , 12:50:25 pm | Posted By: RISHI RAJ SINGH

Category : Accounts | Answers : 0| Comments : 4| Hits: 224

Is Software renewal is considered as purchase

Comments
Posted By : Vipul Jadhav 11-Apr-2015, 12:01:06
Charge to P&L
 
Posted By : Parrkash Daga 25-Feb-2015, 11:33:57
Now from Finance Act 2012 software is royalty. so always charge to profit & loss account.
 
Posted By : Alok Kushwaha 06-Feb-2015, 12:44:26
If software was purchased in earlier year and renewal fees or subscription was paid, expenditure would be revenue expenditure. As in the case of Sergi Transformer Explosion Prevention (P.) Ltd. V/s DCIT {[2014] 47 taxmann.com 370 (Delhi - Trib.)} was decided in favour of assessee.
 
Posted By : Rajan Shivbilash Ram 02-Feb-2015, 05:52:49
See (1)If amount paid for maintenance then it will be expense (2) when its renewed for increase the capacity of software its considered as CAPEX
 

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