Shashi Bhushan (Learner, Jalandhar) (996 Points)
16 September 2009WHAT IS DEPRECIATION RATE ON ELECTRIC FITTINGS? AS MUCH I KNOW ITS INCLUDED IN FURNITURE & FITTINGS SO ITS RATE IS 10%. BUT SOME CAs ARE APPLYING 15% RATE IN RETURNS. WHAT IS CORRECT 10% OR 15%?
Manish Sodani
(Executive (F & A) - ALSTOM India Ltd.)
(222 Points)
Replied 16 September 2009
Yeah,
U must be getting different views on this query. In my view, if the electric fitting is used in the office then 10% rate should be applied. If it used at plant location, it will be a part of Plant & Machinery and 15% rate will be applicable.
pavan
(articled clerk)
(38 Points)
Replied 16 September 2009
Depreciation on electrical fittings if it is used for office furniture then it is 10%
other wise it is 15%
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 16 September 2009
Depreciation on Electrical Fittings is 10%. The term electric fittings includes electrical wiring, switches, sockets, other fittings & fan. Plz refer pg no. 72 & 77 of Direct tax ready recknor from Taxmann Publication. 32nd edition.
regards,
ratan
Shashi Bhushan
(Learner, Jalandhar)
(996 Points)
Replied 16 September 2009
| Originally posted by :Ratan Deep Saxena | ||
| " | Depreciation on Electrical Fittings is 10%. The term electric fittings includes electrical wiring, switches, sockets, other fittings & fan. Plz refer pg no. 72 & 77 of Direct tax ready recknor from Taxmann Publication. 32nd edition. regards, ratan |
" |
Shashi Bhushan
(Learner, Jalandhar)
(996 Points)
Replied 16 September 2009
HERE i am giving wordings of Girish Ahuja:
Depreciation on furniture and fitting including electrical fitting: 10%
electrical fittings include electrical wiring, switches, sockets, other fittings and FANS, etc.
it means depreciation on FANS is also 10%.
am i right?
Ritik Chopra
(student)
(8128 Points)
Replied 09 February 2021
Prachi Bansal
(3129 Points)
Replied 09 March 2021
Could someone please tell me the depreciation rate on solar power generating systems
CAclubindia
