rate of depreciation on intangible assets as per CO's act
This query is : Resolved
13 November 2009
I want to know the rate of depreciation charged on intangible assets by both wdv and slm methods as per COMPANIES ACT 1956.mainly for COMPUTER SOFTWARES and TECHNICAL KNOW HOW.
I have already reffered to AS-6 and AS-26 but rates are not mentioned there.
please help...!!
I will be very thankful...
I have already reffered to AS-6 and AS-26 but rates are not mentioned there.
please help...!!
I will be very thankful...
16 November 2009
please read current year recocker of income tax page no. 72. hope u will find the same as u want.
16 November 2009
thank u for answering sir ... i read the current year reconer page 72 but i didnt find the answer of my query.... please help further sir...
sir that page refers to rate of depreciation as per income tax act.... i want for companies act....
sir that page refers to rate of depreciation as per income tax act.... i want for companies act....
26 November 2009
Data processing Machine including computers
SLM--->16.21%
WDV---> 40%
SLM--->16.21%
WDV---> 40%
27 November 2009
Dear sir Data processing machine means a machine like computer server it is a tangible asse but i m asking for intangible asset. software is used to program data processing machines....
that software is intangible. i want to knw abt that. not the machinery.
that software is intangible. i want to knw abt that. not the machinery.
27 November 2009
Software is an intangible asset and for depreciation on the same you will have to refer AS - 26 on intangible assets and the same should ideally be written off over a period of 5 years but not more than 10 years as per the standard
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Where to show the RCM on Rent paid to unregistered landlord
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- TDS NUMBER SURRENDER
- Gst Sales of FY 2023-24
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Legal heir raised refund , but refund issued to the closed account of deceased.
- RCM - commercial rent paid to URP under GST
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
