Depreciation on imported machinery

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 June 2010 we have imported second hand machinery from Germany two years back, now its used in production.

My question is that can i claim depreciation on that as per company law and what is the rate of depreciation.

Arun Iyer

Arun Iyer (Expert)
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22 June 2010 DEAR,

U CAN CLAIM DEPRECIATION U/S. 32 OF COMPANIES ACT

THE RETE OF DEPRECIATION :

IN SLM METHOD :

ONE SHIFT 4.75 %
TWO SHIFT 7.42 %
THREE SHIFT 10.34 %

IN SLM METHOD :

ONE SHIFT 13.91 %
TWO SHIFT 20.87 %
THREE SHIFT 27.82 %

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