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RATE OF DEPRECIATION

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Querist : Anonymous

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Querist : Anonymous (Querist)
26 June 2010 WHAT IS THE CURRENT RATE OF DEPRECIATION ON AIR CONDITION AS PER COMPANIES ACT AND AS PER IT ACT?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
26 June 2010 As per companies Act - 13.91%
As per Income tax Act - 15%
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Manmohan ACA, CS

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Manmohan ACA, CS (Expert)
26 June 2010 er companies Act - 13.91%
As per Income tax Act - 15%
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
26 June 2010 Dear Manmohan
Airconditioner will fall under machinery and liable for 15% depreciation and not at the rate of computers at 60%.

Please verify your answer.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
26 June 2010 AGREE WITH ADITYA JI RATE OF DEPRECIATION ON AIR CONDITONER AS INCOME TAX IS 15%

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