30 July 2009
Ours is a State Transport Corporation. We are using Electronic Ticketing Machine for issue of Tickets to the Travelling public. This has an in built system for generation of tickets, invoices and other related documents. It has got an inbuilt program to update the data in the main computer so that other remittance, reconciliation, initialisation for subsequent use.
QUERY: What is the depreciation rate under i) Income Tax Act ii)Companies Act.
30 July 2009
As per income tax it will go to P&MAchiniary block and also as per companies act also depreciation on the basis of P& M will be applicable which are minimim depreciation rate as per Schedule VI
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