29 January 2008
It will be onland drilling Rig,Mounted on carrier/chassis with Tyre.This will work together with few items like Drill pipes,Mud pump,Motors,welding machine,Tanks,Safety equipment,Generators,Containers.they can be singly identified items as well package of one.The working of that machine is drilling and workover rig in oil and exploration field. i want to know depreciation rate as per income tax act and as per company act.
29 January 2008
Its a equipment forming part of group Plant & Machinery. General rate of depreciation will be applicable 50% in IT if its a water treatment or supply plant as a whole and 15% if its not that.
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