Assets - category
This query is : Resolved
25 August 2010
Dear Expert,
Can you pls list the asstes that come each of the categories below (as in Sch of FA):
1. Plant & Machinery
2. Electrical installations
3. Equipments
4. Furniture & fixtures
5. Vehicles (shld the vehicle be in the name of the company?)
6. Can software be included in Technical knowhow fees?
thanks
kirti
Can you pls list the asstes that come each of the categories below (as in Sch of FA):
1. Plant & Machinery
2. Electrical installations
3. Equipments
4. Furniture & fixtures
5. Vehicles (shld the vehicle be in the name of the company?)
6. Can software be included in Technical knowhow fees?
thanks
kirti
25 August 2010
1.Plant & Machinery separately grouped
2.Electrical installation can be grouped under Furniture & Fixture
3. Equipments can be grouped under office equipments
4. Furniture & Fixture separate group
5.Vehicles will be separate group
6. Technical know how cannot be added to software, it need to be defferred and wriiten off over the useful period
2.Electrical installation can be grouped under Furniture & Fixture
3. Equipments can be grouped under office equipments
4. Furniture & Fixture separate group
5.Vehicles will be separate group
6. Technical know how cannot be added to software, it need to be defferred and wriiten off over the useful period
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25 August 2010
Apart from the points made by Mr. Ramesh..,
Software can be included in the head "Computers"
Software can be included in the head "Computers"
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25 August 2010
thnx....what I wanted was the examples of assets that come under each category like
Vehicles have car,bus etc.
Vehicles have car,bus etc.
25 August 2010
Plant & Machinery - Machinery for productions, services
2. Electrical installations - electrical fitting, lightings
3. Equipments - UPS, Air conditioners
4. Furniture & fixtures - Office table, chairs,Fittings
5. Vehicles - Car, Bus, Van, jeep
2. Electrical installations - electrical fitting, lightings
3. Equipments - UPS, Air conditioners
4. Furniture & fixtures - Office table, chairs,Fittings
5. Vehicles - Car, Bus, Van, jeep
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25 August 2010
Ramesh ji,
what is the depreciation rate for
Equipments &
Electrical installations
under Co.s & IT act?
are the below rates correct (Cos Act)?
Computers + s/w 40%
Fur & Fixtures 18.1%
Vehicles 25.89%
Bldg.(office) 5%
what is the depreciation rate for
Equipments &
Electrical installations
under Co.s & IT act?
are the below rates correct (Cos Act)?
Computers + s/w 40%
Fur & Fixtures 18.1%
Vehicles 25.89%
Bldg.(office) 5%
25 August 2010
Electrical installations under Co.s - 18.1
IT - 10%
Rest rates correct.
IT - 10%
Rest rates correct.
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25 August 2010
pls write rate for equipments also or is it the same ie 18.1%?
25 August 2010
“Electrical fittings” include electrical wiring, switches, sockets, other fittings and fans, etc. - 18.1%.
Electrical equipment if like office equipments like EPBX, Fax machine - 13.91%
Electrical equipment if like office equipments like EPBX, Fax machine - 13.91%
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