Depreciation rate as per companies act

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Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2012 What is the rate of depreciation on computer software as per the companies act 1956 ?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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27 June 2012 Companies Act - 40%

Income Tax Act - 60%

Sanket

Sanket (Expert)
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27 June 2012 As per compnies Act, Software shown as follows:-
intangible asset--- and write off during its life
or as an expenses---- and hence shown as an expense in the year in which occured.

Or

If you consider as a computer peripheral then
As Per Companies Act
*WDV --- 40%
*SLM --- 16.21%

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