About Depreciation
This query is : Resolved
Jobimon Arackal John
(Querist)
25 May 2009
I have gone through all replies Related to the Depreciation of Software.
Different Persons give different answer .Please give me Current Rate under Companies Act & Income Tax Act
Different Persons give different answer .Please give me Current Rate under Companies Act & Income Tax Act
CA PARVEEN GAMBHIR
(Expert)
26 May 2009
Under Income Tax: @60% on purchase of computer software where ownership of software is transferred. But where licence to use is granted for a specific period it will business expenditure.
Under Companies Act: Refer Schedule XIV or the company may write it off during its useful life as per its policy.
Under Companies Act: Refer Schedule XIV or the company may write it off during its useful life as per its policy.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- Capital Gail Exemption Certificate
- Oct 2025 Invoices
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Taxation of crypto futures in India Fy 2026- 2027
- EPF ECR NEW RULES Sep 17th 2026
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
