Bock of assets

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 August 2012 Whether Motor Car and Machinery will be part of same Block of Assets for the purpose of calculating depreciation u/s Income Tax Act, 1961, if rate of depreciation is same on both assets. or they will be part of different Block of Assets.

Kindly suggest.

CA Sumiit B Nagpal

CA Sumiit B Nagpal (Expert)
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13 August 2012 They will be part of same block i.e. 15% if they both are entitled to same rate of depreciation otherwise different blocks..

Ravi Jhamb

Ravi Jhamb (Expert)
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13 August 2012 Both are the part of the same block and charge 15% Depreciation as per income tax 1961. There are certain block.

Furniture & Fixture.
Computer.
Plant & Machinery
Building

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