How to compute depreciation on tally as per co. act 2013

AS 1255 views 1 replies

Bunty Sharma

Student

61 Points Joined April 2014

Hello,

Can anyone please tell me that how to calculate Depreciation on Tally (or a software which is used for Accounting Purpose or Sale Generation purpose) as per Co. Act 2013?

Further, tell me, if i treat it as intangible asset then how to compute it's future economic benefit?

Thanks

Replies (1)

Anup A Deshpande

Freelancer

77 Points Joined June 2010

Being Intangible asset, it will not be depreciated, it will be amortised as per AS 26 as per useful life. If useful life is not available then amortise over period of 10 years.