Depreciation as per companies act 2013
This query is : Resolved
23 July 2015
Under which head can software be classified as per the provisions of CA 2013 to determine is rate of depreciation.
23 July 2015
Also the rate for intangibles like license
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.
Same principle applies to licence.
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23 July 2015
Thanks Sir.
This means it has to accounted for as per the accounting standards?
This means it has to accounted for as per the accounting standards?
23 July 2015
Yes account it as per accounting standard.
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