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Depreciation rate

This query is : Resolved 

Querist : Anonymous (Querist) 05 September 2012

Please tell me the Depreciation Rate of the following as per Income Tax Act :

Fire Extinguisher
Air conditioner

Thanx in advance...

Pankaj Gupta (Expert)
05 September 2012

* For printer no specific rate of duty is given in depreciation schedule, therefore as a general practice people charge a rate of duty of 60% which is specified for computer.
* And for the other machineries, as no specific rate of depreciation is given , therefore general rate of 15% should be applied. (as per my point of view)

Querist : Anonymous (Querist) 05 September 2012

Sir , i have seen in case of one of my client they are charging the depreciation @ 10% on other machines which i have specified except computer ?

Is it wrong ?

Pankaj Gupta (Expert)
05 September 2012

As per dep schedule the minimum dep to be charged on machinery is 15% which ranges to 100% depending upon the nature of such machine. Charging dep @ 10% is wrong.

Querist : Anonymous (Querist) 06 September 2012

Thanx sir for your answer...

Pankaj Gupta (Expert)
06 September 2012

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