Rate of dep for cycle
This query is : Resolved
28 September 2014
friends,what will be the rate of depreciation in case of cycle(simple cycle)
28 September 2014
Rate of Depreciation under income Tax Act is 15%.
28 September 2014
BUT ONE OF MY FRIEND IS SAYING THAT ,AS THERE IS NO MACHINERY FITTED SO DEP. RATE IS 10%, IS HE RIGHT?
29 September 2014
http://www.vohraandsehgal.com/utilities/depreciation.htm#note5
Check out the rates from above link. See where can you apply rate @10%. In my view 15% rate will apply.
Check out the rates from above link. See where can you apply rate @10%. In my view 15% rate will apply.
29 September 2014
It can be given depreciation @15% under the category of Machinery.There is no specific rate as in the case of other two wheelers also.
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