12 May 2020
we have purchase tds software and this can be renew every year and update accordingly, how can we treat it in books by taking it as revenue expense or treat as intangible asset. the value of software is 38000/- only, Suggest?
12 May 2020
It has been decided in various case laws that purchase of application Software can be treated as revenue expenditure. TDS software can be categorised as application software.
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