What is the meaning of the term computer software as referred to in section 115WC? Will it include information technology enabled services?
Clause (d) of sub-section (2) of section 115WC provides for a lower percentage for valuation of fringe benefits for the purposes referred to in clauses (F) and (G) of subsection (2) of section 115WB in the case of an employer engaged in the business of manufacture or production of computer software. In the absence of a specific definition in the said clause, the term ‘computer software’ will assume its natural meaning i.e., recording of programmes on any disc, tape or perforated media or other information storage device. Accordingly, information technology enabled services will not fall within the scope of the term ‘computer software’ for the purposes of section 115WC of the Income-tax Act. 106. What is the meaning of the term business of construction’ – whether only civil construction or even other construction work like construction of plants, telecommunication infrastructure, etc. are also covered? The term ‘business of construction’ must be understood by giving the ordinary English
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