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Depreciation

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(Querist)
25 May 2009 Respected All,

Can anyone tell me what is the rate of depreciation for Computer Software.

Thanks.
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HUZAIFA HUSSAIN

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HUZAIFA HUSSAIN (Expert)
25 May 2009 60% as per income tax act and 40% as per companies act under single shift wdv method
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CA PARVEEN GAMBHIR

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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.
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