By Sherry Samuel Oommen & Ajith R
Background: The question as to the classification of an item of expense as revenue or capital in nature for income-tax purpose has long been a contentious issue before the courts. The same has been settled by the courts on a case-to-case basis, also setting-forth the general principles relevant for determining the deductibility of an expense as revenue expenditure under section 37(1) of the Income-tax Act, 1961 (‘the Act’). The said issue attains greater significance in the case of tax deductibility of payments made towards purchase of software for the purpose of business, considering the fact that said payments would constitute a major item of expenditure not only for major business houses but also for small and medium enterprises (SMEs).
Guest Articles
By Korath V Mathew
By Naseem Javed
In the recent past there have been several incidences where the security of Kerala based websites has been compromised. Implementing the right security model is a vital part of any Online Portal and in this guest article we hope to cover some important points related to the same.
By Nirup Nair
By Thomas Schuster