Hi,
Could some one please tell me what is the depreciation percentage for computers as per the latest company law?
Regards
Debopriyo
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What is the depreciation percentage for computers?
Replies (9)
Quick Summary
40% Depreciation is charged on Computers and Computer software.
(Asset Class :-Plant & Machinery.)
(Asset Class :-Plant & Machinery.)
In some sites it is mentioned as ~64%. Please clarify which depreciation % is accurate?
40% is correct
40% on Computers
So on the financial statement of the company the depreciation for computers should be 40%? On some private websites it is mentioned as 63.18%.Are you sure that 40% depreciation is correct?
For companies calculation of depreciation is different, and it is calculated on the basis of its useful life. so 40% is not applicable. There is a formula for that.
Whether slm or wdv there must be a % of depreciation which is widely accepted as the standard for depreciating computers based on the companies act of 2013 by the ca community.So what is that percentage of depreciation?My accountant is pegging it as 63.18%.
I think and hope as per companies Act 2013 useful life of computers is 3 years (end user device), Based on this calculation under SLM it is 31.67% and under WDV it is 63.16%.
Please comment only if you are sure as the difference is close to 24%
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