Depreciation
This query is : Resolved
24 January 2014
hii
plese tell me depreciation rate of computer software?
Thanks
hii
plese tell me depreciation rate of computer software?
Thanks
24 January 2014
as per income tax act-60%
as per company act you can written off in 3 years or 5 years as per company policies.
as per company act you can written off in 3 years or 5 years as per company policies.
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24 January 2014
II Rates of Depreciation (Applicable w.e.f.
A.Y. 2006-07, Refer Notification No. 67/2005
dt. 28th February, 2005 w.e.f. 2-4-2005)
RATE %
I
Buildings : (See Note 2)
1
Buildings which are used mainly for residential purposes except hotels and Boarding House
5
2
Buildings which are not used mainly for residential purposes and other than mentioned in 1 & 3
10
3
Buildings acquired on or after 1-9-2002 for installing P & M forming part of water supply project or water treatment system and put to use for the purpose of providing infrastructure facilities u/s. 80-IA(4)(i)
100
4
Purely temporary erections such as wooden structures.
100
II
Furniture and fittings including electrical fittings
10
III
Machinery and plant : (See Note 3)
1
Machinery and plant other than those covered by sub-items 2, 3 and 8 below
15
2
Motor-cars (other than those used in business of running them on hire) acquired or put to use on or after 1st April, 1990.
15
3
i.
Aeroplane — Aeroengines
40
ii.
Motor buses, Motor lorries and Motor taxies
used in a business of running them on hire.
30
iii.
Commercial vehicle acquired on or after 1.10.1998 but before 1.4.1999 and is put to use before 1.4.1999 for the purposes of business or profession.
40
iv.
New commercial vehicle acquired on or after 1.10.1998 but before 1.4.1999 and is put to use before 1.4.1999 in replacement of condemned vehicle of over 15 years of
age for the purpose of business or profession.
60
v.
New commercial vehicle acquired on or after 1.4.1999 but before 1.4.2000 in replacement of condemned vehicle of over 15 years of age and is put to use before 1.4.2000 for the purpose of business or profession.
60
vi.
New commercial vehicles acquired on or after 1-4-2001 but before 1-4-2002 and is put to use before 1-4-2002 for the purpose of business or profession.
50
vi.a)
New commercial vehicle acquired on or after 1-1-2009 but before 1-4-2009 and put to use before 1-4-2009 for the business or profession
50
vii.
Moulds used in rubber and plastic goods factories
30
viii.
Air pollution control equipments
100
ix.
Water pollution control equipments
100
x.
Solid waste control equipments
100
xi.
P & M used in semi-conductor industry
30
xi.a)
Life saving medical equipments
(For Items refer to Rule 5 App. I)
40
4
Containers made of glass or plastic used as refills
50
5
Computers (including computer software)
60
6
Machinery and plants used in weaving processing, and garment sector of textile industry purchased under TUFS on or after 1-4-2001 but before 1-4-2004 and is put to use before 1-4-2004
50
7&8.
For other items of P & M refer to Rule 5 App. 1
100/80/60
9
i.
Books owned by assessees carrying on a profession
a.
Annual publication
100
b.
Other books
60
ii.
Books owned by assessees carrying on business in running lending libraries
100
IV
Ships
Refer to Rule-5 App.-I
20
V
Intangible Assets
Knowhow, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature acquired on or after 1.4.1998.
25
Computer software 60%
II Rates of Depreciation (Applicable w.e.f.
A.Y. 2006-07, Refer Notification No. 67/2005
dt. 28th February, 2005 w.e.f. 2-4-2005)
RATE %
I
Buildings : (See Note 2)
1
Buildings which are used mainly for residential purposes except hotels and Boarding House
5
2
Buildings which are not used mainly for residential purposes and other than mentioned in 1 & 3
10
3
Buildings acquired on or after 1-9-2002 for installing P & M forming part of water supply project or water treatment system and put to use for the purpose of providing infrastructure facilities u/s. 80-IA(4)(i)
100
4
Purely temporary erections such as wooden structures.
100
II
Furniture and fittings including electrical fittings
10
III
Machinery and plant : (See Note 3)
1
Machinery and plant other than those covered by sub-items 2, 3 and 8 below
15
2
Motor-cars (other than those used in business of running them on hire) acquired or put to use on or after 1st April, 1990.
15
3
i.
Aeroplane — Aeroengines
40
ii.
Motor buses, Motor lorries and Motor taxies
used in a business of running them on hire.
30
iii.
Commercial vehicle acquired on or after 1.10.1998 but before 1.4.1999 and is put to use before 1.4.1999 for the purposes of business or profession.
40
iv.
New commercial vehicle acquired on or after 1.10.1998 but before 1.4.1999 and is put to use before 1.4.1999 in replacement of condemned vehicle of over 15 years of
age for the purpose of business or profession.
60
v.
New commercial vehicle acquired on or after 1.4.1999 but before 1.4.2000 in replacement of condemned vehicle of over 15 years of age and is put to use before 1.4.2000 for the purpose of business or profession.
60
vi.
New commercial vehicles acquired on or after 1-4-2001 but before 1-4-2002 and is put to use before 1-4-2002 for the purpose of business or profession.
50
vi.a)
New commercial vehicle acquired on or after 1-1-2009 but before 1-4-2009 and put to use before 1-4-2009 for the business or profession
50
vii.
Moulds used in rubber and plastic goods factories
30
viii.
Air pollution control equipments
100
ix.
Water pollution control equipments
100
x.
Solid waste control equipments
100
xi.
P & M used in semi-conductor industry
30
xi.a)
Life saving medical equipments
(For Items refer to Rule 5 App. I)
40
4
Containers made of glass or plastic used as refills
50
5
Computers (including computer software)
60
6
Machinery and plants used in weaving processing, and garment sector of textile industry purchased under TUFS on or after 1-4-2001 but before 1-4-2004 and is put to use before 1-4-2004
50
7&8.
For other items of P & M refer to Rule 5 App. 1
100/80/60
9
i.
Books owned by assessees carrying on a profession
a.
Annual publication
100
b.
Other books
60
ii.
Books owned by assessees carrying on business in running lending libraries
100
IV
Ships
Refer to Rule-5 App.-I
20
V
Intangible Assets
Knowhow, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature acquired on or after 1.4.1998.
25
Computer software 60%
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