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Depreciation rate (Income Tax)

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This query is : Resolved

Author : Anonymous

( Author )
05 September 2012

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

Fire Extinguisher
Air conditioner
Printer
Refrigerator

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)


Author : Anonymous

( Author )
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.


Author : Anonymous

( Author )
06 September 2012

Thanx sir for your answer...


Pankaj Gupta

( Expert )
06 September 2012

You can thank the expert by clicking on the icon below his name.


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