https://www.taxtmi.com/highlights?id=56073 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 en-us Mon, 28 Dec 2020 09:45:55 +0530 Mon, 28 Dec 2020 09:45:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=56073 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 Highlights Income Tax Mon, 28 Dec 2020 09:45:55 +0530 https://www.taxtmi.com/highlights?id=56073