Depreciation Rate

same as above

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

sir

What is the depreciation rate of mobile hand set?

 attendance software register depreciation

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

As per IT act : 60%

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

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.

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?

Rates of depreciation on computer software are as follows:

Income Tax Act - WDV Method - 60%

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

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

I am aware that as per IT it is 25%

Please help

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

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