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Querist : Anonymous

Querist : Anonymous (Querist)

06 August 2017 Which is the best software for accurate calculation for filing ITR1,4,?

Amol S Joglekar

Amol S Joglekar (Expert)
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06 August 2017 i use winman, taxbase, computax.........all are good

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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07 August 2017 Amol Ji

But in Winman depreciation rate for computer....is 60% where as the rate is 40% for asst yr 2017-18 and on wards as per rule 5 of IT Rules, 1962. Pl comment.

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Amol S Joglekar

Amol S Joglekar (Expert)
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07 August 2017 @ B.Chackrapani Warrier
Yes, it was 60%, It should be 40%

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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16 August 2017 In the query " https://www.caclubindia.com/experts/software--2540584.asp" , you have noted that winman depreciation rate is wrong. However, for AY 17-18 40% rate is only for cases covered u/s 115BA i.e for domestic companies. Further details given below: As per notification no. 103/2016: (a) In rule 5, the following proviso shall be inserted w.e.f. 1-4-16 (i.e. AY 17-18): Provided that in case of a domestic company which has exercised option u/s 115BA (4), the allowance u/s 32 (1) (ii) in respect of depreciation of any block of assets entitled to more than 40% shall be restricted to 40% on the WDV of such block of assets. (b) In the New Appendix I, in the Table, in the second column, for the figures � �50�, �60�, �80�, �100� �, wherever they occur, the figure �40� shall be substituted w.e.f. 1-4-17 (i.e. AY 18-19). Further, provisions to disclose depreciation at higher rate is given ITR forms or departments java/excel utility of AY 2017-18. You can also refer Taxmann ready reckoner in this regard. Therefore, depreciation is not restricted to 40% for AY 2017-18 except cases covered u/s 115BA. As such winman has given correct rate. Please correct your reply.

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