Depreciation Rate
This query is : Resolved
14 March 2009
Sir/Madam
What is the depreciation rate as per Companies Act & Income Tax Act for Leasehold equipments such as office interiors & furniture & fittings. Can we write off in the period of lease holding?
What is the depreciation rate as per Companies Act & Income Tax Act for Leasehold equipments such as office interiors & furniture & fittings. Can we write off in the period of lease holding?
14 March 2009
The fact that you lease hold a property doesn't have any impact on Depreciation rate..
Though, their accounting treatment is quite different from the one which is freehold, but under both the Acts nothing on this context regarding depreciation is provided.
Though, their accounting treatment is quite different from the one which is freehold, but under both the Acts nothing on this context regarding depreciation is provided.
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