Dep rate

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Prakhar Maheshwari

Prakhar Maheshwari (Querist)
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17 January 2014 what is the rate of dep on know how in co. act

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Guest (Expert)

18 January 2014 Kindly ignore the earlier mail.
Intangibles have to be amortized as per AS 26.
A variety of amortisation methods can be used to allocate the depreciable amount of an asset on a systematic basis over its useful life. These methods include the straight-line method, the diminishing balance method and the unit of production method. The method used for an asset is selected based on the expected pattern of consumption of economic benefits and is consistently applied from period to period, unless there is a change in the expected pattern of consumption of economic benefits to be derived from that asset. There will rarely, if ever, be persuasive evidence to support an amortisation method for intangible assets that results in a lower amount of accumulated amortisation than under the straight-line method.

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