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Depreciation on rental plant & machinery

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(Querist)
13 March 2013 A Company is having
Plant&Machinery on 1-10-2012 of Rs.1/-lakh
Land & Building on 1-10-2012 of Rs.3/-lakh

and has given it on rent

Now can the Company create depreciation, if yes please provide me the rate of interest for both in both way I.T Act and Co'Act 1956

and for how many months

plz reply
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CA Mahavir Shah

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CA Mahavir Shah (Expert)
13 March 2013 Yes company can claim depreciation on both.
Rats of depreciation varies widely according to the nature of asset.

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