rate of depreciation on intangible assets as per CO's act

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shobhika (Querist)
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13 November 2009 I want to know the rate of depreciation charged on intangible assets by both wdv and slm methods as per COMPANIES ACT 1956.mainly for COMPUTER SOFTWARES and TECHNICAL KNOW HOW.
I have already reffered to AS-6 and AS-26 but rates are not mentioned there.
please help...!!
I will be very thankful...

RAJESH SHUKLA

RAJESH SHUKLA (Expert)
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16 November 2009 please read current year recocker of income tax page no. 72. hope u will find the same as u want.

shobhika

shobhika (Querist)
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16 November 2009 thank u for answering sir ... i read the current year reconer page 72 but i didnt find the answer of my query.... please help further sir...
sir that page refers to rate of depreciation as per income tax act.... i want for companies act....

CA Chandra Kishore Bajpai

CA Chandra Kishore Bajpai (Expert)
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26 November 2009 Data processing Machine including computers
SLM--->16.21%
WDV---> 40%

shobhika

shobhika (Querist)
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27 November 2009 Dear sir Data processing machine means a machine like computer server it is a tangible asse but i m asking for intangible asset. software is used to program data processing machines....
that software is intangible. i want to knw abt that. not the machinery.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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27 November 2009 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

shobhika

shobhika (Querist)
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27 November 2009 thank u sir....

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