what will be the tax treatment for purchasing of software ?
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(185572 Points)
Replied 31 May 2017
Usually debited to P&L accounts as revenue expenditure, unless having longer useful life.
devendrakumar
(Chartered Accountant)
(11 Points)
Replied 31 May 2017
I thinkTreatment means how depreciation on purchse of software
will be provided.
Depreciation under Companies Act: Life of the Computers including computer software is 6 years.
It means every year 1/6 amount will be depreciated.
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For Income Tax depreciation on Computers including computer software should be povided at 60%
D.K.Doshi
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