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Income Tax - Highlights / Catch Notes

Home Highlights July 2019 Year 2019 This

Depreciation on software license - intangible and depreciation ...


Software Licenses Depreciate at 25% While Software Applications Enjoy 60% Rate for Tax Purposes.

July 24, 2019

Case Laws     Income Tax     HC

Depreciation on software license - intangible and depreciation allowable @25% or software application depreciation allowable @60% - if a particular article would fall within the description by the force of the words used, it is impermissible to ignore the word 'description' and going by the usage of the equipment - there is no error in the taking note of the specific entry in contra distinction with the general entry - allowable @60%

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