As per Act, Mobile phones are taken in 15% depreciation category which takes much time to write off the entire value. Whereas within 2 years the value of such phone will obviously come down. So in that case, why cant we take it under Computers and Accessories and depreciate @ 60%?
5 Replies
CA Bhavin Venugopal
(CHARTERED ACCOUNTANT)
(681 Points)
Replied 08 August 2013
Depreciation Rate under companies Act is 13.91% and under IT act it is 15%.
Amith
(CA final & CS Professional)
(63 Points)
Replied 08 August 2013
- If the value of phone is less than 5000 INR then, 100% depreciation shall be provided
- else, As per co's act it 13.9 %
- else, As per IT act 15 % under the plant and machinery block
Any ways it has to be capitalised as per the definition of Fixed Asset and Capital Expenditure.
malli
(Ca-Final)
(24 Points)
Replied 19 October 2017
HI Sir,
Can you please tell me the Dep.Rate for mobile handset for fy 2016-17 as per Companies act 2013
Prachi Bansal
(3129 Points)
Replied 11 January 2021
Can you please let me know the depreciation applicable now on mobile phones?
Ayushi Arora
(298 Points)
Replied 15 February 2021
Cell phones are not listed property.
You can deduct or depreciate cell phones under the regular rules for business property. You don't need detailed documentation on usage.
You must use your listed property continuously for more than 50% of the time for business purposes.
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