Depreciation on ATM Machines
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 May 2010
ATM machines is to be taken as plant & machinery or will be a under computer grouping i.e. rate will be 15% or 60% as per income tax act
07 May 2010
ATM machine is related to banking co.
and banking co has their rate of dep on ATM.
and banking co has their rate of dep on ATM.
Message likes :
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Querist : Anonymous
Querist :
Anonymous
(Querist)
07 May 2010
dear biren can u pls specify the rate as per income tax act , banking rates are as per company act
07 May 2010
I think ATM should be in electrical equipment for which 80% dep is allowed as per income tax act. It says
" Remote terminal units/intelligent electronic devices, computer hardware/software, router/bridges, other required equipment and associateed communication systems for supervisory control and data acquisition systems, energy management systems and distribution management system for power transmission systems."
I think second menion "intelligent electronic devices " will cover that.
" Remote terminal units/intelligent electronic devices, computer hardware/software, router/bridges, other required equipment and associateed communication systems for supervisory control and data acquisition systems, energy management systems and distribution management system for power transmission systems."
I think second menion "intelligent electronic devices " will cover that.
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