Software life as per companies act

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WebJul 9, 2015 · Kindly advice. 09 July 2015 No life has been prescribed for software under companies Act 2013. Being SAP software which will be useful for long time , consider the … WebMar 22, 2024 · As per Companies Act,2013, Depreciation is calculated based on the useful life of assets and not based on the rate of Depreciation. In Income tax, Depreciation is allowed as an expense to the company while arriving at income under the head PGBP (Profit and Gain from Business and Profession) from the year on which Asset is first used.

Useful life of computer software [Resolved] Corporate Law

WebMay 3, 2024 · As per the Income Tax Act, 1961, depreciation is to be calculated as per Block of Assets criteria by following WDV Method The Indian Companies Act, 2013 specifies … Web127 rows · Jun 18, 2024 · Prior to its omission, Paragraph 5 read as under : “5. Depreciable … how much is engineered wood flooring

GN (A) 35 Guidance Note on Accounting for Depreciation in companies …

Web123 of the Companies Act, 2013 states that no dividend shall be declared unless some depreciation is provided in accordance with Schedule II of the Companies Act, 2013 (corresponding schedule XIV of the Companies Act, 1956). Following is the extract of the Schedule II of the Companies Act, 2013, which provides Useful Lives to Compute ... WebDec 4, 2024 · As per the depreciation chart, the life of computers is 3 years. Step 1: Enter the Date of Purchase of Asset as 01/04/2024 (dd/mm/yyyy) Step 2: Enter the Cost of Asset as … Webper Part C of the Schedule II to the 2013 Act. Where a company adopts a different useful life or uses a different residual value as prescribed in Part C of Schedule II to the 2013 Act, … how do chickens see

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Companies Act, 2013 - MCA

WebOct 2, 2024 · The tax deduction for medical expenses is limited to 2% of total payroll if the employer implements certain portable medical insurance or benefit schemes. Otherwise, … WebFrom the date this Schedule comes into effect, the carrying amount of the asset as on that date—. ( a) shall be depreciated over the remaining useful life of the asset as per this Schedule; ( b) after retaining the residual value, shall be recognised in the opening balance of retained earnings where the remaining useful life of an asset is nil. how do chickens sleepWebSep 25, 2024 · Q. Useful life of tally software for depreciation as per schedule 2 of companies act 2013 1,294 views Question added Sep 25, 2024 Corporate Matters/LLP By … how do chickens run

"Web2. For the purpose of this Schedule, the term depreciation includes amortisation. 3. Without prejudice to the foregoing provisions of paragraph 1,—. [ [2] [ (i) The useful life of an asset … " - Software life as per companies act

Software life as per companies act

WebMay 24, 2024 · Among of my achievements through years are the exclusive partnership with Amazon as one of the top 20 transportation companies -partners, expanding Asian company in the US and organizing the set up of warehouse facility and branch office in LA, building along with software engineers company platform related to freight forwarding, reaching … WebNov 8, 2024 · As per the companies act, 2013, the residual value of an asset cannot be more than 5%. Step 1: Cost of the asset = ₹ 3,00,000. Step 2: Scrap value of the asset = 15,000. Step 3: The useful life of the asset as per companies act, 2013 = 10 years. Step 4: The depreciation rate for the asset = 25.89%. Depreciation schedule as per companies act ...

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WebSep 25, 2024 · Q. Useful life of tally software for depreciation as per schedule 2 of companies act 2013 1,294 views Question added Sep 25, 2024 Corporate Matters/LLP By Kuldeep Kodan , CA , New Delhi, India http://www.cas.ind.in/wp-content/uploads/11Guidance-Note-on-Accounting-for-Depreciation-in-companies-in-the-context-of-Schedule-II-to-the-Companies-Act-2013.pdf

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WebApr 14, 2024 · The Senior Sales Engineer supports our Enterprise Sales Executives, partners and Major Account Managers across the ASEAN regions by owning the technical solution throughout the sales process. This includes initial sales prospecting, attending conferences and MeetUps, scoping and architecting solutions, running proof-of-concepts to prove ROI ... Web129 rows · Mar 27, 2014 · A table is given below of depreciation rates applicable if the asset is purchased on or after 01 st April, 2014 and useful life is considered as given in …

WebJan 29, 2024 · As per schedule ii of companies act,2013 depreciation is to be provided on assets based on their useful lives given in schedule. The useful lives given in the context …

WebMode of Expression – Percentage vs. Years. While the depreciation rate is stated as a percentage, the useful life is stated in the number of years. For example, we can say that a … how much is enhypen lightstickWebNov 8, 2024 · As per the companies act, 2013, the residual value of an asset cannot be more than 5%. Step 1: Cost of the asset = ₹ 3,00,000. Step 2: Scrap value of the asset = 15,000. … how much is enhypen concert ticketWebJan 5, 2024 · Friends As per Schedule II to CA 2013 Air Conditioner should be classified as Office Equipment or Plant Machinery If PM will it be in the useful life of 15 years category But AC with 15 years is it a reasonable ... Particlulars as per Companies Act 2013: Life: SLM: WDV (XIV) Electrical Installations and Equipment [NESD] 10: 9.50%: 25 ... how much is enhanced dbsWebI have over 10+ years of experience in the IT industry and have worked in all areas of the software life cycle. I am a strong communicator, excellent team player, and very good finisher to deliver each projects as per timeline and holds an Masters Degree in Business Adminstration from UTKAL University and Master Degree in Information Technology from … how much is english pound in dollarsWebEnd to end experience in software development life cycle such as requirements analysis, prototyping, proof of concept, designing, implementation, testing, up gradation and maintenance. Motivated and knowledgeable business and system analyst with extensive experience and understanding of business development and growth. Expert … how do chickens urineatehttp://corporatelawreporter.com/companies_act/schedule-2-of-companies-act-2013-useful-lives-to-compute-depreciation/ how do chickens sleep at nightWebThe following information shall also be disclosed in the accounts, namely:—. Depreciation methods used; and. The useful lives of the assets for computing depreciation, if they are … how do chickens show affection