Depreciation Rate

Page no : 6

(Guest)

Originally posted by :Guest
"	1). Can Mobile Handset be capitalised? Can it be treated as assets? 2). If yes what is the rate of depreciation as per IT and Companies Act both SLM and WDV?	"

same as above

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(Guest)

Dear All,

Please describe the provisions under companies Act regarding DEPRECIATION RATE on INTANGIBLE ASSETS . If possible , kindly give reference in support of your answer.

thanks

awaiting

angad

(Guest)

Can anyone please help me out with all the written Down Value rates of derpreciation for all category of items. quick response is highly appriciated

vishnuprasad (propriator) (24 Points)
Replied 11 August 2009

sir

What is the depreciation rate of mobile hand set?

M.Sridhar (Audit Manager) (22 Points)
Replied 28 September 2009

attendance software register depreciation

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Mukesh Kumar Verma (Service) (21 Points)
Replied 25 July 2010

Hi Frnd

There is no rate specified in Sch-XIV of companies act 1956. But Normally companies charge depriciation on Software @ the same rate as companies charges on computes. ie. 16.21 in case of SLM and 40% in case of WDV method.

Thanks

CA Mukesh Kumar VERMA

Nabeel (CA) (3288 Points)
Replied 13 October 2010

As per IT act : 60%

As per Companies Act : 40% WDV and 16.21% SLM

kanhaiya kumar agarwal (Practising Chartered Accountant) (72 Points)
Replied 16 July 2011

As per Income Tax Act, depreciation is to be provided @ 60%. And, depreciation on computer software is not specifically provided under Companies Act, thus in this regard AS-26 will prevail, which specifies amortisation to a period not exceeding 10 years.

nilam_ut@rediffmail.com (nilam_ut@rediffmail.com) (21 Points)
Replied 21 July 2011

Kindly let me know the rates of depreciation as per company as well as income tax act for the F.Y. 2010-11 & 2011-12?

Vandana Mulchandani (Finance Manager ) (9227 Points)
Replied 22 July 2011

Rates of depreciation on computer software are as follows:

Income Tax Act - WDV Method - 60%

Companies Act - WDV - 40% & SLM - 16.21%

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RUPAKSHI JOBANPUTRA (FINANCE EXECUTIVE) (47 Points)
Replied 03 August 2011

i want @ know the depreciation rate on trademark as pr companies Act

I am aware that as per IT it is 25%

Please help

CA Mitesh Shah (Chartered Accountant) (68 Points)
Replied 03 July 2012

Hi all,

Schedule XIII nowhere contains applicable rate for software, this is an intangible asset which should follow provisions of AS26, which allows intangible asset to amortize during its useful life generally not exceeding 10 years.

What we do in our practice in order to mitigate the deffered tax provisions we write it off in 4 years means @ 25% as per IT Act 1961.

Thank You

B.R.Singh (Accounts Manager) (21 Points)
Replied 05 October 2012

Deprecaiation on computer software as per the provisions of Income tax Act is 60%

pradeep kumar reddy (Article Student) (24 Points)
Replied 29 November 2012

Dear Anthony rate of dep is 25%

Originally posted by : ANTHONY.R
	Can any one tell me the depreciation rate for intangible asset under income tax-for trade mark and liecenses..????????

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pradeep kumar reddy (Article Student) (24 Points)
Replied 29 November 2012

Originally posted by : RUPAKSHI JOBANPUTRA
	i want @ know the depreciation rate on trademark as pr companies Act I am aware that as per IT it is 25% Please help

No rate is specified as per companies act.