Rate of depreciation for computer software
This query is : Resolved
30 November 2011
what is rate of depreciation on computer software under companies act.
Aditya Maheshwari
(Expert)
30 November 2011
60% same applicable to computer.
02 December 2011
I think 60% is under income tax act & that too for computer not for software. i am asking under companies act?
why not software be treated as intangible assets & depreciated @ of 25%
why not software be treated as intangible assets & depreciated @ of 25%
Aditya Maheshwari
(Expert)
05 December 2011
Sorry didnt read companies act.
Computer software would be intangible asset and be depreciated as per accounting standard 26.
Further as per income tax act software would be 60% only.
(5) Computers including computer software
60
Computer software would be intangible asset and be depreciated as per accounting standard 26.
Further as per income tax act software would be 60% only.
(5) Computers including computer software
60
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