Depreciation Rate as per Income Tax Act
This query is : Resolved
19 March 2008
Respected Sir,
I want know Rate of depreciation as per
Income Tax Act
Plant & Machinery
Furniture & Fixture
Air Conditioner
Electric Installation
Motor Cycle
Office Equipment
Fax Machine
Water Cooler
Your immediate responce will be highly appreciated
With best regards,
Vilas Choudhari
Respected Sir,
I want know Rate of depreciation as per
Income Tax Act
Plant & Machinery
Furniture & Fixture
Air Conditioner
Electric Installation
Motor Cycle
Office Equipment
Fax Machine
Water Cooler
Your immediate responce will be highly appreciated
With best regards,
Vilas Choudhari
19 March 2008
Plant & Machinery 15%
Furniture & Fixture 10%
Air Conditioner 10% (Furniture)
Electric Installation 15%
Motor Cycle 15%
Office Equipment 15%
Fax Machine 15% (Office Equipment)
Water Cooler 10% (Furniture)
Please look at Brackets which is taken under the head.
please let me know if you have any doughts,
Furniture & Fixture 10%
Air Conditioner 10% (Furniture)
Electric Installation 15%
Motor Cycle 15%
Office Equipment 15%
Fax Machine 15% (Office Equipment)
Water Cooler 10% (Furniture)
Please look at Brackets which is taken under the head.
please let me know if you have any doughts,
Message likes :
6 times
19 March 2008
P & M - 15%
F & F - 10%
A.C, Electric,office equipment,fax machine & water cooler at 10% because all are electrical firrings
Motor cycle at 15%
If the value of aset is less than Rs.5000 we can claim 100% depriciation as per sec.32 of income tax act,1956
F & F - 10%
A.C, Electric,office equipment,fax machine & water cooler at 10% because all are electrical firrings
Motor cycle at 15%
If the value of aset is less than Rs.5000 we can claim 100% depriciation as per sec.32 of income tax act,1956
Message likes :
4 times
19 March 2008
As Well as i want to add one more point in the gayathri note..if company feel any other amount except than Rs.5000 which is negligable amount.They can take that amount and provide depreciation at 100%.Its depend on the company size
Message likes :
3 times
19 March 2008
I mean to say more than Rs.5000 like to say VSNL Feel Rs.5 lacs is negligable for them and they will be satisfied to the auditore.Because there fixed assets costings are like 100 to 150 crores so they are negligible..So in the same year they can write off
19 March 2008
KAKA Amit Rs.5000 walw point is as per company act & Ques of Mr.Vilas is Depreciation rate as per Income Tax Act & depreciation is calculate on Block of assets.
This is Club Of CA's
This is Club Of CA's
19 March 2008
Mr.Jitendra is correct
19 March 2008
Ya i agreed with them he is correct thats from companies act point of view.. i forget and thanks for reminding me and correcting me
Message likes :
3 times
20 March 2008
i want to tell that electrical fitting is included in furniture and fitting only so depreciation on electrical instalation should be depreciated at 10%.
also i like the way ca amit had accepted his mistake,i really appreciate that.
also i like the way ca amit had accepted his mistake,i really appreciate that.
Message likes :
1 times
24 March 2008
Plase take Ready racknor or Income Tax Act with Additionl deprecation Normal Rates are as under:
Plant & Machinery 15%
Furniture & Fixture 10%
Air Conditioner 10% (Furniture)
Electric Installation 15%
Motor Cycle 15%
Office Equipment 15%
Fax Machine 15% (Office Equipment)
Water Cooler 10% (Furniture)
Plant & Machinery 15%
Furniture & Fixture 10%
Air Conditioner 10% (Furniture)
Electric Installation 15%
Motor Cycle 15%
Office Equipment 15%
Fax Machine 15% (Office Equipment)
Water Cooler 10% (Furniture)
Message likes :
2 times
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