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Deprecitation on windmill

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(Querist)
20 April 2010 HI ALL..

CAN U PLS PROVIDE WITH ME DEPRECIATION RATE ON WINDMILL.

CAN I CLAIM ADDITONAL DEP ON SUCH WINDMILL.

PLS REPLY.

THANKS ALL..
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
20 April 2010 Depreciation rate is 80%

Windmill falls under the head plant & machinery in the depreciation schedule and additional depreciation is allowable on plant & machinery only. So technically additional dep @ 20% should be allowed.
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CA Shiv

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CA Shiv (Expert)
20 April 2010 yes in short you can claim 100% depreciation in first year itself...
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HARESH

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HARESH (Querist)
21 April 2010 IF THE SAME IS TAKEN UNDER LIMITED COMPANY NAME WHAT WOULD BE DEPRECIATION RATE.
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CA Vijay Kumar Gupta

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CA Vijay Kumar Gupta (Expert)
21 April 2010 NORMAL RATE- 80%
ADDL. DEP-20%
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HARESH

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HARESH (Querist)
21 April 2010 WONT IT ATTARACT COMPANIES RATE???????
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
22 April 2010 Companies rate as per companies act to be applied for books purpose only. For income tax purpose 100% depreciation allowable.

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