as 26
This query is : Resolved
19 June 2009
how we can show computer software on assets list as per co act and as per it act ?
Pls tell me where difine assets in co act 1956.
Pls tell me where difine assets in co act 1956.
19 June 2009
Computer Software is an Intangible Fixed Asset.
Definition of Fixed assets is given in AS-10 and not in Co's Act.
Definition of Fixed assets is given in AS-10 and not in Co's Act.
20 June 2009
Dear nitin , thanks for reply pls also clear-
as per sec 32 and definiation of block of assets in sec 2(1) block 10 includes computer software and rate of deprication is 60%.
but in intangible asstes rate of dep is 25%.
so how can we calculate deprication ?
as per sec 32 and definiation of block of assets in sec 2(1) block 10 includes computer software and rate of deprication is 60%.
but in intangible asstes rate of dep is 25%.
so how can we calculate deprication ?
22 June 2009
Specific prevails over general.
Since it is specifically given that computer including computer software is to be depreciated @ 60%.
Since it is specifically given that computer including computer software is to be depreciated @ 60%.
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