Rate of depreciation for computer software

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Akhilesh

Akhilesh (Querist)
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30 November 2011 what is rate of depreciation on computer software under companies act.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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30 November 2011 60% same applicable to computer.

Akhilesh

Akhilesh (Querist)
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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%

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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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