Software purchase

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 June 2016 SIR, I BOUGHT CC AVENUE SETUP PURCAHSE FOR BUSINESS PAYMENT FACILITY FOR CUSTOMER WORTH R. 32000/-. I WANT TO KNOW IN WHICH HEAD I PASS THIS ENTRY ASSETS OR BUSINESS PROMO. EXP. . & ALSO MAKES TDS LIABILITY FOR THE SAME OR NOT.

Rupesh Jain

Rupesh Jain (Expert)
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21 June 2016 its software then you can claim dep. under income tax act.

software for payment a/c(under capiltalization)
to vendor a/c

Querist : Anonymous

Querist : Anonymous (Querist)

21 June 2016 OK. SIR THANKS. WHAT ABOUT TDS LIABILITY FOR THE SAME ?

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Rupesh Jain

Rupesh Jain (Expert)
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21 June 2016 on software if it is not made any change by the seller to you then its not tds applicable
pls see
www.incometaxindia.gov.in/Communications/Notification/920110000000000195.htm