CA Day celebration 2024 Easy Office
LCI Learning

Classification of elevator / lift.

This query is : Resolved 
Profile Image

Profile Image

(Querist)
02 April 2012 We have installed a new elevator / lift in our office building.

Kindly intimate me the asset head under which an Elevator / Lift is to be classified and also the rate of depreciation for the financial year 2011-12.

Thanking you in anticipation,

Regards,
Dhanaraj
Profile Image

CA G. SURYANARAYANAN

Profile Image

CA G. SURYANARAYANAN (Expert)
02 April 2012 elevator and lift are comes under the category of plant and machinery, so you can claim depreciation at 15% if it is used for more than 182 days. this shoud not be treated as building.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CA Day celebration 2024 with Tally CCI Pro

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links