depreciation rate for computer software
Answers were Sorted based on User's Feedback
As Per Income Tax - 60 %
As Per Companies Act
*WDV --- 40%
*SLM --- 16.21%
Is This Answer Correct ? | 100 Yes | 12 No |
Answer / sirikonda satish
According to Income tax act 1961. the present rate of
computer depreciation is 60%.
Is This Answer Correct ? | 72 Yes | 14 No |
Answer / kavitha
THE DEPRECIATION RATE FOR COMPUTERS UNDER INCOME TAX ACT
1961 IS 60 PERCENT. THIS INCLUDES COMPUTER SOFTWARES. THE
DEPRECIATION RATE UNDER COMPANIES ACT 1956 IS 40 PERCENT
UNDER WDV METHOD. THE SECTION APPLICABLE IS 350 UNDER
COMPANIES ACT 1956 AND SCHEDULE XIV. THE DEPRECIATION IS
FOR DATA PROCESSING MACHINES INCLUDING COMPUTERS. SO WE
ALSO CONSIDER THE SOFTWARES, PRINTERS SCANNERS AS A
PERIPHERAL PART OF THE COMPUTER AND APPLY A RATE OF 40
PERCENT UNDER COMPANIES ACT.
Is This Answer Correct ? | 36 Yes | 9 No |
Answer / devesh kumar gupta
given answer by Abhishek thakur is absolutelt correct
As Per Income Tax - 60 %
As Per Companies Act
*WDV --- 40%
*SLM --- 16.21%
Is This Answer Correct ? | 18 Yes | 3 No |
Answer / h.r. sreepada bhagi
Depreciation rate is different under WDV & SLm under the
Companies Act, 1956 & the rate under Income Tax 1961 (India)
is different. These are available online also. Just search
by typing Depreciation rates. or else see Income Tax Ready
Reckoner, where depreciation rates are available for all
assets under both the Acts.
Is This Answer Correct ? | 16 Yes | 8 No |
Answer / paras chand jain
Depreciation on Computer Software is 60% as per Income Tax Act. And 40% on Written down value or 16.21% as SLM as per Companies Act 2013
Is This Answer Correct ? | 3 Yes | 3 No |
Answer / aman
as per income tax act 60%. computer software is an intangible assets so accounting standard 26 is applicable according to AS-26 intangible assets in written of according to licence period of software if period is not ascertain then software is written off in 3-5 years generally
Is This Answer Correct ? | 1 Yes | 2 No |
in trial balance if there is PROVISIONS given under the heading current liabilities then where will its effect be ??
What Is error of totalling? plz provide the neccessary notes?
State which of the following are Cash transactions, and which are credit transactions: Questions Answers 1. Anil commenced business with Rs.10,000 2. Bought goods for cash Rs. 2000 3. Bought goods from Balaji on account Rs. 4000 4. Paid Balaji on account Rs. 500 5. Commission received Rs. 50 6. Commission due to Raj Rs. 100 7. Took Loan from Bank Rs. 20,000 8. Interest on loan due to the bank Rs. 200 9. Paid salaries Rs. 200 10. Sold goods for Rs. 1000 11. Sold goods to Eshwar on account Rs. 2000 12. Received from Eshwar on account Rs. 100
Explain the exact meaning of debit note and credit note in the case of hospital business mainly in case of billing?
Should Sales tax filing be done ? If yes , why ? explain.
Explain the importance of evaluating an internal audit department?
Explain different functions of internal audit?
Dividend Received From A Company Is a Indirect Income or It Should be treated as capital revenue?
how many types of auding report?
tax audit object & rules
1 Answers Chartered Accountant, In Solutions, Visa, VK,
I WANT TO DO MY ARTICLE-SHIP FROM DELLOITS KOLKATA..PLEASE HELP??
Explain tangible assets?