Rate of depreciation as per i.t. act
This query is : Resolved
26 April 2012
please let me know the rate of Depreciation on CCTV Camera & Television if the same is installed /held within factory premises & used for Business Purposes as per section 32 of I.T. Act.
27 April 2012
In my opinion, it will be depreciated @ 15% under Office Equipment Heading.
27 April 2012
No, it would come under Plant & Machinery head for Income tax act. For Companies Act, it would come under Office equipments.
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