Depreciation on computer software
This query is : Resolved
22 October 2013
Software purchased should be charged to P/l completelty or depreciation should be claime @ 60% considering the Amendments as per Finance Act 2012??
Software is purchased from the Indian entity!
Software is purchased from the Indian entity!
22 October 2013
AS PER INCOME TAX ACT IT IS 60% AS THE ACT SAYS THAT THE BLOCK 60% IS APPLICABLE FOR COMPUTER INCLUDING SOFTWARE.
OR
it is amortised as per AS-26(intangible assets)....within 3-5 years
OR
it is amortised as per AS-26(intangible assets)....within 3-5 years
10 October 2021
Expenditure over most of the software installed on a computer are revenue in nature.
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