Poonawalla fincorps
Poonawalla fincorps

Depreciation on computer software

This query is : Resolved 
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(Querist)
22 October 2013 Software purchased should be charged to P/l completelty or depreciation should be claime @ 60% considering the Amendments as per Finance Act 2012??
Software is purchased from the Indian entity!
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
22 October 2013 AS PER INCOME TAX ACT IT IS 60% AS THE ACT SAYS THAT THE BLOCK 60% IS APPLICABLE FOR COMPUTER INCLUDING SOFTWARE.

OR
it is amortised as per AS-26(intangible assets)....within 3-5 years
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Dhirajlal Rambhia online

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Dhirajlal Rambhia online (Expert)
10 October 2021 Expenditure over most of the software installed on a computer are revenue in nature.
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