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.
All the above mention assets are coming under Motor car or Plant and Machinery for depreciation purpose? Pls advice.
29 October 2010
It will come under plant & Machinary. As per vechile Act, all three are not covered under Vehicle.
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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.
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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