Computer Software on Disk Qualifies as Tangible Asset for Tax Depreciation; Eligible for 60% Rate Under "Plant" Definition.

Depreciation on computer software - Because software contained in a disk is tangible property by itself. Since the taxpayer’s ownership of limited right over the computer software purchased from Oracle by making payment of license fee is a tangible assets, it is entitled for depreciation @ 60% as per definition of “Plant” - AT .....

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