What is the rate of depreciation for Plant & Machiney put to use in F.Y 2008-09 under Income Tax Act ?
4 Replies
Deeps
(Article Assisstant)
(2485 Points)
Replied 26 October 2009
Hi pl. check this link..
law.incometaxindia.gov.in/TaxmannDit/DispCitation/ShowCit.aspx
Batul
(Article assistant)
(207 Points)
Replied 27 October 2009
It is 15% according to Income Tax act 1961
praveen
(Chartered Accountant)
(6971 Points)
Replied 27 October 2009
date of putting asset to use is very important.
If used for more than 180 days then it charged @ 15% otherwise at 7.5%
special rates use the link given above by Deepika.
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