05 August 2015
hello, i would like to know what will be the rate of depreciation in case of the items like spoons, forks, plates and other kitchen equipments? and under which part of the depreciation schedule will it fall?
05 August 2015
Dear Shreyas, you need to understand dep under incone tax can be claimed as plant at 15% only if it is used for the purpose of the business profession. For example on kitchen items of guest house dep can't be claimed.
And further under companies act dep can be claimed as office equipments..
CAclubindia
