Depreciation rate as per companies act
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 June 2012
What is the rate of depreciation on computer software as per the companies act 1956 ?
27 June 2012
Companies Act - 40%
Income Tax Act - 60%
Income Tax Act - 60%
27 June 2012
As per compnies Act, Software shown as follows:-
intangible asset--- and write off during its life
or as an expenses---- and hence shown as an expense in the year in which occured.
Or
If you consider as a computer peripheral then
As Per Companies Act
*WDV --- 40%
*SLM --- 16.21%
intangible asset--- and write off during its life
or as an expenses---- and hence shown as an expense in the year in which occured.
Or
If you consider as a computer peripheral then
As Per Companies Act
*WDV --- 40%
*SLM --- 16.21%
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