rate of depreciation on accounting softwares purchased by firms? further which type of computer softwares are eligible for claiming depreciation at 40%? kindly interpret.
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Rate of dep on softwares?
Replies (4)
software is intangible asset so u. can claim 25% dep on soft
software is not used without computer so took it as peripheral device of computer..so rate of computer will apply on software
COMPUTER SOFTWARES ARE ONLY USED WITH THE COMPUTER SO IN THAT CASE AS PER MY OPINION DEPRECIATION RATE ON THE SOFTWARE SHOULD BE SAME AS THE RATE OF DEPRECIATION ON COMPUTER i.e. 40% AS SUCH SOFTWARE CANNOT BE USED SOLELY WITHOUT COMPUTER.
As per income tax Rate of Depreciation @ 40% for Computer and Computer Softwares...
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