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Depriciation

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 September 2013 Dear Sir,
Whether it is mandatory to charge depreciation on all assets
or
assessee can left any assets without charging depreciation.
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
22 September 2013 Yes , as per explanation 5 of section 32(1) it is mandatory to claim depreciation.
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Querist : Anonymous

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Querist : Anonymous (Querist)
22 September 2013 What is the applicable rate on office furniture.
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Ganeshbabu K

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Ganeshbabu K (Expert)
22 September 2013 10% under income tax act
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
22 September 2013 Furniture and fittings including electrical fittings 10 percent..

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