radha (nil) (198 Points)
08 November 2011
C A kailash vyas
(propritor)
(48 Points)
Replied 08 November 2011
AS PER IT ACT 1961 UNDER SECTIION 32 THE DEPRICIATION RATE ARE AS FOLLOWING :
Definition of P & M is changed.
As per section 43(5) plant and machinery
includes.....
excludes furniture, building, livestock and tea bushes.
Therefore the above answer stand the test of time in changed circumstances.
thanks
CS K.K. Agrawal
C A kailash vyas
(propritor)
(48 Points)
Replied 10 November 2011
SIR I AM ATTACHING THE DOC MEANING OF PLANT AND MACHINARY AS PER TAX LAW UNDER SECTION 43(3)