Depreciation on Forklift and Pallet Truck

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 October 2010 We are using Forklift, Pallet Trucks and Mobile Cranes in our company.

All the above mention assets are coming under Motor car or Plant and Machinery for depreciation purpose? Pls advice.

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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29 October 2010 It will come under plant & Machinary. As per vechile Act, all three are not covered under Vehicle.

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poonam

poonam (Expert)
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30 October 2010 hi.
as per co. act for calculation of dep. we consider all these vehical in big vehical and dep. charge @30% but as per income tax we take all vehical in plant & machinary.

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