Expenses incurred for replacing non-Y2K compliant computer with ...

Y2K Compliance Costs for Computer Replacement Qualify for Tax Deduction Under Law.

October 14, 2015

Case Laws Income Tax HC

Expenses incurred for replacing non-Y2K compliant computer with Y2K compliant computer - the expenditure was for replacement of a system within a larger system which is permissible in law - deduction allowed - HC

View Source

← Previous Next →

Expenses incurred for replacing non-Y2K compliant computer with ...

Y2K Compliance Costs for Computer Replacement Qualify for Tax Deduction Under Law.

October 14, 2015

Case Laws Income Tax HC

You may also like:

Conversion of non-Y2K compliant computer system into Y2K computer system - Allowable expenditure... - AT

Deduction u/s 80P(2)(a)(i) - The decision underscores the principle that interest income earned by co-operative societies, if invested in compliance with statutory...

Deduction u/s 80IB - undertaking not qualifying as an SSI (Small Scale Industry) unit - Considering our finding above of inclusion of computers cost, patterns, fixtures...

The ITAT addressed various issues: disallowance u/s 40(a)(ia) for year-end provisions, deduction u/s 10AA for interest income, TDS u/s 195 for subscription fees, foreign...

LTCG - Deduction u/s 54 - Adoption of the cost of acquisition of new asset - - what is to be treated as cost of the residential house is the entire cost of house and it...

The case pertains to the disallowance of deduction claimed u/s 80IA by an assessee operating two units, one for paper manufacturing and another for power generation. The...

Valuation - clearance of manufactured computers after pre-loadingh with Application Software - Deduction of software cost has to be on the basis of amount equivalent to...

The ITAT allowed deduction under Section 37 for education expenses sponsored for director's children, following precedent that educational sponsorship in...

The High Court held that the deduction u/s 33AC for creating a reserve to acquire new ships must be factored in while computing the deduction u/s 80-I, which is based on...

Issues relating to export of computer software Direct tax benefits -Clarification reg. - Circular

The assessee claimed exemption/deduction u/s 54F on account of investing long-term capital gains in a new residential house. The PCIT disallowed the claim, considering...

The Finance (No. 2) Bill, 2024 encompasses provisions relating to tax proposals for the Union Budget 2024-25. It outlines amendments to various direct and indirect tax...

RATES OF INCOME-TAX for the PY 2022-23 i.e. AY 2023-24 [As per previous year Budget and comparison with Budget 2023 proposals] - Notes In the new tax regime increase the...

TDS u/s 195 - amounts paid by the assessee to the non-resident computer software manufacturers / suppliers as consideration for the resale / use of computer software, is...

MAT - deduction of Rebate u/s 88E while calculating the tax liability of the assessee for minimum alternative tax u/s 115JB - when the total income is assessed and the...

Quick Updates: