Depreciation calculation as per companies act 2013

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2015 We all are well known about the changing of depreciation rates from 1-4-2014 with effect of companies act 2013. We know according to this act we has different formulas to compute depreciation rate for Tangible assets and Intangible assets, according to that formula Intangible assets depreciation rate can be depended on the actual revenue generated and projected revenue generating, but in case the company has Intangible asset which is non-revenue generating asset then how to compute depreciation?

for example: A Company has accounting software to do their accounting computerise, this is not the revenue generating asset or event to the company but it is asset to the company in such case how depreciation shall compute or Cost of that or Carrying cost of that can be written off to P&L? please clarify me, it is very urgent audit is pending for it. and if possible give support to your answer.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

05 July 2015 Depreciate the software for 10 years. Refer Accounting standard 26.

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

Manoj Sharma

Dalbir Singh Wadhera

Hanuma Yanduri

Sagar Khakhiwala

Phani

Subscribe Now

Depreciation calculation 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