What would be the rate of Depreciation under IT act for "TIPPER" used in the business of Construction, Excavation ?
RITESH JAIN (M.COM CA ) (62 Points)
22 March 2012What would be the rate of Depreciation under IT act for "TIPPER" used in the business of Construction, Excavation ?
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 22 March 2012
it will comw under the mechinary head hence the depriciation rete shall be 15 % as per Income Tax.
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