Depreciation as per companies act 2013

This query is : Resolved

Vidhi Raichura (Querist)
Follow

23 July 2015 Under which head can software be classified as per the provisions of CA 2013 to determine is rate of depreciation.

Vidhi Raichura

Vidhi Raichura (Querist)
Follow

23 July 2015 Also the rate for intangibles like license

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

23 July 2015 No depreciation rate has been provided for software as per provisions of CA 2013. Classify it under intangible assets and charge depreciation for 10 years, i ncase of actual life less than 10 years apply life based on actual life.
Same principle applies to licence.

Message likes : 1 times

Vidhi Raichura

Vidhi Raichura (Querist)
Follow

23 July 2015 Thanks Sir.
This means it has to accounted for as per the accounting standards?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

23 July 2015 Yes account it as per accounting standard.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

rana andcompany

MAYUR

Tanuj Kumar Sharma

Aravind S

UPENDRAN YADAV

Subscribe Now

Depreciation as per companies act 2013

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA