Rate of depreciation?

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Vipul (Querist)
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08 July 2011 Can somone please confirm if the following rates are right or not as per COMPANY'S ACT ???

Computers - 16.21% SLM
Furniture and Fittings - 6.33% SLM
Office Equipment (Can it be taken under Furniture and Fittings) - 6.33% SLM
Vehicles - 9.5%
Computer Software - Intangible Asset? - 10% SLM

CA Navin Jain

CA Navin Jain (Expert)
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08 July 2011 all rate is right except software

Software is an intangible asset and for depreciation on the same you will have to refer AS - 26 on intangible assets and the same should ideally be written off over a period of 5 years but not more than 10 years as per the standard

Vipul

Vipul (Querist)
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08 July 2011 10% slm would be a write off over 10 years if im not mistaken ?

Abhishek

Abhishek (Expert)
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17 July 2011 I think the students should also make some effort to open the books given by the institute or they can search even on the internet.

Vipul

Vipul (Querist)
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17 July 2011 i agree with you abhishek, but you should understand that CA is course which requires regular updation. the rates i mentioned above were taken from the institute book only and i just wanted to confirm them, which is why i posted this question in the first place.
my main doubt was over office equipments and software. Software i know is under as26 so no problem there. office equiments is where i am not clear.

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