INCOME TAX

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Querist : Anonymous

Querist : Anonymous (Querist)

07 July 2011 UNDER WHICH HEAD OF INCOME TAX, TATA PHOTONS USB FOR INTERNET WILL COME.

U S Sharma

U S Sharma (Expert)
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08 July 2011 telephone / fax and internet expenses.

CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
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08 July 2011 if it is paid for internet USB token, it should be capitalized for the purpose of income tax

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C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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08 July 2011 The expenses if for purchase of software. If the life of the software is above 2 years then it is to be capitalised and if it is below 2 years then it is to be treated as revenue expenses. In cae you have purchased the user licence on yearly basis then it is revenue expenses otherwise any other mode of purchases is a capital expenses.

Querist : Anonymous

Querist : Anonymous (Querist)

08 July 2011 UNDER WHICH HEAD OF INCOME TAX, TATA PHOTONS (PORTABLE USB (LIKE PAN DRIVE) FOR INTERNET WILL COME.