Depreciation
This query is : Resolved
25 May 2009
Respected All,
Can anyone tell me what is the rate of depreciation for Computer Software.
Thanks.
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.
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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