lucky sharma (212 Points)
11 September 2019
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(176815 Points)
Replied 12 September 2019
As per IT act....
| General Plant and Machinery; water cooler, RO etc ... | 15% |
Sonography machine & X ray machine, Life Saving Medical Equipment etc .... 40%.
| Furniture and Fittings including electrical fittings .... | 10% |
PARAS CHHAJED
(CA Practice )
(1025 Points)
Replied 21 September 2023
Sonography and X-Ray machine do not find a place in the appendix to Income Tax Rules, which prescribes rates of depreciation. Under Part III Plant and Machinery at serial (xia) the list of Life saving medical equipment is there which may please be referred. Therefore, Sonography and X-Ray machines should be eligible for depreciation @ 15% and not 40%.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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