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Q. > Please Help: Related to Accounts
Is Software renewal is considered as purchase
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Comments
Rajan Shivbilash Ram
02-Feb-2015 , 05:52:49 pmSee (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
Alok Kushwaha
06-Feb-2015 , 12:44:26 pmIf 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.
Parrkash Daga
25-Feb-2015 , 11:33:57 amNow from Finance Act 2012 software is royalty. so always charge to profit & loss account.
Vipul Jadhav
11-Apr-2015 , 12:01:06 pmCharge to P&L