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Depriciation rate

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(Querist)
04 March 2010 Industry have been purchased Cranes and enter them in vehicles account,I want to know the Depreciation rate as per Income Tax Law.
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Jag Bhushan Sharma

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Jag Bhushan Sharma (Expert)
05 March 2010 First of all cranes should be put in machinery a/c and not vehicle a/c because cranes are not primarily used for transporting people or goods. The rate of depreciation is 15% on machinery as per Income Tax Act.

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