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It has been held by the Income Tax Appellate Tribunal, Bangalore Bench thatIf computer software is affixed onto hardware and the single product i.e. integrated unit is sold then Tax Deducted at source shall not be applicable. Here, in this case, the assessee and the subject of consideration is M/s Autodesk Asia Private Limited that […]
What is Form 16B? The amount of money deducted as property TDS is essentially shown by Form 16B. In this instance, the buyer must essentially deduct the TDS from the property at the time of sale. The amount deducted as TDS on the sale property that the buyer had deposited with the Income Tax Department […]
The Chennai Bench of the Income Tax Appellate Tribunal (ITAT) has permitted the 60% depreciation on ATM machines as appropriate to computer software. The two-member bench of Sonjoy Sharma (Judicial Member) and G. Manjunatha (Accountant Member sees that once the taxpayer would be qualified for 60% of the depreciation on ATM machines, the Assessing Officer […]
The Karnataka Authority for Advance Ruling has ruled that pre-developed and pre-designed Computer Software can be seen as goods and shall be levied with 5% GST. The petitioner, M/s Keysight Technologies India Pvt. Ltd. is involved in the supply of the scientific and the technical equipment and the time based and the perpetual software license […]
A Delhi High court division bench has mentioned the software licensing of Microsoft products within the Indian region are not applicable with the taxes as per the Indian royalty section 9(1)(vi) of the Act read with Article 12 of the Indo US DTAA. The Revenue dept contended the decision of Tribunal in the High court […]
Know About Statement of Financial Transaction Statement of Financial Transaction (SFT) poses the report of the mentioned financial transactions by the particular individual along with the stated reporting financial institutions. These people who enrol, maintain or record these particular financial transactions are compulsory to submit SFT to the income tax authority or these people authority […]
In this article, we have listed the best TDS software in India according to the reviews and ratings by professionals. This software can reduce the tax burden of Indian CAs (Chartered Accountants) and professionals along with error-less preparation of TDS compliance. List of Top TDS Return Software for CA and Professionals As mentioned in the […]
The GST software is a necessity for government-mandated GST filing for taxpayers and businesses and basically offers a complete solution to the GST-related process and compliance. Here in this post, we would be looking at the best GST return filing & billing software for CA offered by the organizations: Govt GST Offline Utility This is […]
It has been held by The Income Tax Appellate Tribunal, Bangalore Bench that the disallowance of the item ‘depreciation on software purchase’ cannot be done by invoking section 40(a)(i) of the Income Tax Act 1961. Here, in this case, the assessee, ‘Messrs UKN Properties Private Limited’ is in the Real Estate Industry and involved in […]
