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Depreciation on Mobile

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[ Scorecard : 30]
Posted On 02 February 2010 at 17:39 Report Abuse

Anybody plz  tell me that hw cud treat mobile phone for the purpose of Depreciation under Income Tax Act & Also Under Co. Act

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[ Scorecard : 60]
Posted On 02 February 2010 at 17:45

It should be considered as Office Equipments for IT Act and Companies Act.


[ Scorecard : 510]
Posted On 02 February 2010 at 17:57

Ya it should treated under office equipment.


[ Scorecard : 3956]
Posted On 02 February 2010 at 18:21

Dear Gautam,

Under Companies Act assets costing upto Rs. 5,000 may charged to profit & loss A/c in the first year

If it exceeds Rs. 5,000 then It should be capitalised under Plant & Machinery - General @ 13.91% (WDV)

Whereas no such facility is available under Income Tax Act - i:e It has o be capitalised - Head "Plan & Machinery - General" @ 15%

Needless to say Cost shall also include cost of "First Recharge Voucher, First Insurance, etc", being an expenditure necessary for making the asset ready for use.

Pravesh Kumar
Still Learning

[ Scorecard : 163]
Posted On 02 February 2010 at 18:59

office equipments

DhiraJ GuptA
Accountant Internal Audit

[ Scorecard : 27]
Posted On 14 February 2011 at 16:40

Mobile phones are treated as plant and machinery, and are entitled to depreciation at the rate of 15 per cent.

Ajay Rajai
Tax Advocate (Consultant) I.T and Documentation of Properties

[ Scorecard : 695]
Posted On 15 February 2011 at 20:10

Yes, mobile phones are to be treated under the category "plant and machinery" and are entitled for deprciation @ 15%  under The Income Tax Act

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