What is the depreciation rate of a Generator as per companies act???
6 Replies
SHYAM MANDHANI
(CA FINAL)
(115 Points)
Replied 06 July 2011
Generator will be treated as plant and machinery, so apply the P& M rate.
Harsha
(Financial Accountant)
(60 Points)
Replied 07 July 2011
hi,
The generator will be treated as plant and machinary so it 15% depraciation is applicable.
Regards
Harsha
CA Rakesh Garg
(Asst. MGR Taxation)
(510 Points)
Replied 07 July 2011
Generator will be treated as plant and machinery, so apply the pm rate i.e. exp. 13.91 (wdv, single shift) as per shift and method used by company.
Pulkesh Mehta
(Chartered Accountant)
(243 Points)
Replied 07 July 2011
Ms Harsha -15% rate is according to IncomeTax Act,According to Companies Act rate is-13.97%,.as said by Mr.Rakesh...........
Sona Shalini
(Chartered Accountant CS Final )
(82 Points)
Replied 08 July 2011
Is 13.97% WDV rate or SLM???
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