rate of depreciation

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Indrajit Pujari

Indrajit Pujari (Querist)
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12 May 2010 What is the rate of depreciation on plant and machinery for the first year and the consecutive years

Akbar Mirza

Akbar Mirza (Expert)
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14 May 2010 1)When Plant & Machinery is newly installed. then regular depreciation rate shall be 15% and additional depreciation shall be allow @ 20% for the first year if it is used for more than 180 days.

2)For consecutive years the rate shall be 15%.

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NISHIT A. DOSHI

NISHIT A. DOSHI (Expert)
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23 May 2010 Hi,

It is to be noted that to claim the additional depreciation in the first year, the unit should be a manufacturing unit.

REGARDS,
C.A.NISHIT DOSHI

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