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depreciation rates

Manish (student) (47 Points)

19 March 2008

i need depreciation tax rates as per income tax

specially for furniture (detailed)

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64 Replies

(Guest)

Rate for furniture is 10%.

p&m 15%

Computers 60%

Motor vehicles 15%

MV(Commercial) 30%

Buildings 5%

Buildings (Commercial) 10%

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(Guest)

there is only one rate for furniturwe @ fittings- 10%

for other if u want to go in deep take the help of incometax book..........

Manish (student) (47 Points)
Replied 19 March 2008

is there is any diff rate of depn for furniture used in school as per it act ?

(other than 10 %)

(Guest)

hello manish

there is no diff rate for furniture used in school b,coz there is only one rate for furniture in it as per my knowledge

Manish (student) (47 Points)
Replied 20 March 2008

i m confuised because as per co act depn on furniture used in school is diff from other furniture

thats y i want 2 know that any similer provisions is there in IT act

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Amit Sharma (article) (2677 Points)
Replied 21 March 2008

Thanks for info....

kumar (student) (54 Points)
Replied 24 March 2008

Hello Friends i am newly suscriber for this good website........ so i need some information about depreciation on UPS used for the purpose of company

girish mangla (practice) (206 Points)
Replied 24 March 2008

UPS is not a part of assets. it is a part of computer expenses, hence no rates of depreciation is valid .

(Guest)

Hello Sir,

Can you provide me with the information on the rate of depreciaiton i can charge on the following assets (rate prescribed under the indian companies act) for the financial year 2007-08 :

Generator , HP printer, Microwave Oven, Refrigerator, Colour TV, LCD Monitor,

There is also a UPS at a value of Less then Rs. 2000, can i claim a 100% depreciation on that....? if no then what is the rate of Dep. i need to apply.

Thank You... please provide with the answers as soon as possible

Nitin Katira (Account Officer) (50 Points)
Replied 09 April 2008

Hi experts,

can anyone provide me full depreciation chart (latest) to my email id nitin.katira @ gmail.com

thanks in advance

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(Guest)

What is depreciation rate for P&M, Furniture, Computer, Cars , Building , Office Equipment as per company act

(Guest)

I want information about Schudule of Balance sheet and Profit and Loss a/c as per Accounting Standards- & information about Deprciation rate as per company act & Income tax act?

soni (service) (48 Points)
Replied 26 May 2008

I want to know rates of Depreciation as per income tax act & indian company act. What is the main difference between income tax act & indian company act.

I want to know, we always add dep (as per company act) in PGBP and less dep (as per income tax act)in PGBP.

Please guide me