Depreciation on computer including computer software is 40% as per IT Act 1961
i want to know what is the depreciation rate on only software.
Whether it will be covered under Intangible assets and rate will be 25% or whether the rate will be 40%
please guide.
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Dpereciation on software
Replies (7)
Quick Summary
As per the it act wdv depreciation must be used
I think it would be 40% even for software. Just check if the below definition holds good.
"Computer software" means any computer programme recorded on any disc, tape, perforated media or other information storage device.
Rate of depreciation on software also is 40%
You should go with 40%
Ok. thank you all.
40% depreciation is applicable
As per act computer including hardware and software so depreciation on software is 40%
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