CA Rahul Agarwal (CA) (93 Points)
06 June 2008I am a Ca final student. wanna know what rate of depreciation in respect to accounts of a Tea manufacturing unit will be charged on following items:
1. Fencing of Factory.. 2. Plant and Machinery in a tea industry. 3. Commercial Vehicles. 4.Land & Plantations.
H S Rajashree
(MBA in Finance)
(221 Points)
Replied 06 June 2008
It would help if you refer the IT ready reckoner where there is a detailed table of IT depreciation rates
DEEPAK KUMAR TIBREWALA
(profession)
(101 Points)
Replied 06 June 2008
I am a Ca final student. wanna know what rate of depreciation in respect to accounts of a Tea manufacturing unit will be charged on following items:
1. Fencing of Factory.. 2. Plant and Machinery in a tea industry. 3. Commercial Vehicles. 4.Land & Plantations.
FENCING:- NOT A CAPEX CHARGE TO REVENUE
PLANT & MACHINERY:- 15% AS PER IT AND GENERAL RATE FOR CONTINIOUS FACTORY AS PER COS ACT.
COMM VEH:- 30% AS PER IT
LAND :- NIL
PLANTATION:- BASED ON UPROOTING OF TEA BUSHES
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