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Depreciation sh ii

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SHAMEEM (Querist)
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26 May 2015 WHAT IS THE PROCEDURE OF ACCOUNTING TREATMENT OF DEP. FOR SOFTWARE INSTALLED IN COMPANY ?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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26 May 2015 depreciation includes amortization of intangible assets so divide the cost of software by useful life of assets as per sch 2 under co act 2013

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CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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26 May 2015 Sorry i provided for income tax purpose.

Sanket (Expert)
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27 May 2015 per AS- 26 intangible assets should be
amortised in the ratio of future economic lives of assets. For software and website, the prescribed life is 3-5 years and for others, it is 10 years.

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