mine in partnership firm. i would like to no what is the rate of depreciation for temporary structures like iron pillars, iron truss, and iron hangers.
hey!
refer to para 65 of AS 26 . it is said that software to be amortise within 10 years
one of the company (Suzlon) has amortize SAP of 4.5 crores in 5 years
As per AS-26, 10 years period is maximum period over which intangibel assets can be amortised unless there is strong cast to demonstrate that the life is even more than 10 years. However, the Companies needs to asses the economic life of the intangible assets for the purpose of amortisation. It may be 2 year, 3 years, etc depending on the assessment of the management.
hence, there is nothing wrong in amortising the intangibles for shorter period.