https://www.taxtmi.com/caselaws?id=445296 The ITAT Chennai ruled in favor of the assessee on two issues. First, regarding TDS u/s 195 on secondment cost payments to US entities, the tribunal held that since the assessee reimbursed salary costs on cost-to-cost basis without profit and already deducted TDS u/s 192 (evidenced by Form 16), no additional TDS u/s 195 was required. Second, on depreciation of computer software, the tribunal allowed 60% depreciation rate instead of AO's restricted 25%, holding that software is integral to computer systems and eligible for the same depreciation rate as computers. en-us Mon, 09 Oct 2023 00:00:00 +0530 Sat, 04 Nov 2023 09:16:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445296 The ITAT Chennai ruled in favor of the assessee on two issues. First, regarding TDS u/s 195 on secondment cost payments to US entities, the tribunal held that since the assessee reimbursed salary costs on cost-to-cost basis without profit and already deducted TDS u/s 192 (evidenced by Form 16), no additional TDS u/s 195 was required. Second, on depreciation of computer software, the tribunal allowed 60% depreciation rate instead of AO's restricted 25%, holding that software is integral to computer systems and eligible for the same depreciation rate as computers. Case-Laws Income Tax Mon, 09 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445296