hi
at what rate sewing machines are charged for depreciation? 10% or 15%
and what is nature of business to be mentioned in ITR 4 for taiolring business and for tution teacher
Kishore Reddy
(CA)
(89 Points)
Replied 15 February 2016
Depreciation rate for Sewing machine is 15% because it is a Machine.
Nature of Business for Tailoring is "0120-Textiles, handloom, Power looms" and for Tution Classes is"Income from other Sources"
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)