we are a computer rental organisation , we have claimed 60% depriciation on our compters. IT department disputes and says that we should be claiming 15% as it is revenue earning asset therefore lesser percentage.
please suggest.
thanks
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Depreciation on computer used in rental business
Replies (2)
Go to appeals.
The depriciation chart issued by income tax act can not be challenged on the name of use of asset. That chart is irrespective of how you use the asset for the business.
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