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Depreciation

This query is : Resolved 

25 May 2009 Respected All,

Can anyone tell me what is the rate of depreciation for Computer Software.

Thanks.


25 May 2009 60% as per income tax act and 40% as per companies act under single shift wdv method

26 May 2009 Under Income Tax: @60% on purchase of computer software where ownership of software is transferred. But where licence to use is granted for a specific period it will business expenditure.

Under Companies Act: Refer Schedule XIV or the company may write it off during its useful life as per its policy.




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