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...
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....
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.
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
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