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USEFUL LIFE OF COMPUTER SOFTWARE

RAVI SONI

One of my client has installed SAP software worth ₹ 500000/-, in this regard I want to know as per Companies Act 2013 what will be the useful life of SAP software.

Kindly advice.

Useful life of computer software remains unspecified by company law, creating accounting and compliance uncertainty. The query asks whether the useful life of computer software (e.g., SAP) is determined by the Companies Act, 2013. The operative conclusion is that the Companies Act, 2013 contains no express provision specifying useful life or depreciation treatment for computer software, leaving such determinations to applicable accounting standards and company policy rather than to the Companies Act. (AI Summary)
Corporate Laws / SEBI / LLP
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DR.MARIAPPAN GOVINDARAJAN on Jan 11, 2016

In my views the Companies Act, 2013 has not dealt with such cases.

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