suppose i have purchased a plant & machinery for100000. now how will i compute depreciation? what will be the amount of total depreciation???
6 Replies
amit
(st)
(111 Points)
Replied 11 January 2012
U wil be eligible for normal dep. Nd add. Dep if it is new p&m
C.A. Sandeep Wawhal
(CA, PGDFM, BCom)
(1831 Points)
Replied 11 January 2012
Depratiation as per I.T. Act is @ 15% on Plant & Machinery and If such Plant & Machinery Purchase After 6 months then depratiation should be calculated @ 7.5%
Provision of Additional Depreciation is applicable only for Manufacturing Company.
Max Payne
(employed)
(2574 Points)
Replied 11 January 2012
| Originally posted by : dushyant | ||
 |
suppose i have purchased a plant & machinery for100000. now how will i compute depreciation? what will be the amount of total depreciation??? |
 |
Normal depreciation @ 15% = 15000
+ addl depreciation @ 20% = 20000
Total = 35000
If asset has been put to use for less than 180 days,
Normal depreciation = 100000*15%*6/12 = 7500
+ Addl Depreciation = 100000*20%*6/12 = 10000
Total = 17500
Addl depreciation is only available wrt new P&M other than ships and aircraft,
only to P&M used in manufacturing business.
CA LOVELY ARORA
(C.A. B.Com (H) Graduate)
(2151 Points)
Replied 11 January 2012
agree with all.........
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