Depreciation rate

This query is : Resolved

Report Abuse Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

16 January 2012 rate of depreciation on computer software as per companies act??

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

16 January 2012 As per----
Companies Act - 40%
Income Tax Act - 60%

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
Follow

16 January 2012 thanks sir.

another link:

http://taxguru.in/income-tax/rates-of-depreciation-as-per-income-tax-act-for-a-y-2010-11.html

http://taxguru.in/hubs/depreciation_rates_as_per_income_tax_act_for_ay_11-12/

Upgrade to CAclubindia Pro. Subscribe Now!

Nayan Das

Nayan Das (Expert)
Follow

16 January 2012 IF ITS A COMPUTER PERMANENT SOFTWARE THEN ITS DEPRECIATION COMAPANIES ACT: 40% AND I.T.ACT: 60%
OTHERWISE ITS RECURRING OR TEMPORARY SOFTWARE THEN ITS GOING TO EXPENSES COMPUTER MAINTAINCE OR COMPUTER PERIPHERAL HEAD

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

16 January 2012 Also read article from below link with regard to Capitalization of expenditure on software....

http://www.taxmann.com/fileopener.aspx?stype=3&searchid=8701