sandhya (CA Final) (185 Points)
06 March 2012Please give me the depreciation rates for the following items as per income tax act for the F.Y 04-05,05-06 and 06-07.
Also pls mention the heads they come under which will be very useful!!
1.Television sets
2. audit visual
3.Mobile phone
4.Intercom
5. Furniture
6. Electrical fittings
Pls help me !!
Anumanchipalli Sathikonda
(Tax Consultant)
(1349 Points)
Replied 06 March 2012
Ms.Sndhya
The rates of depreciation under Income-tax Act, 1961 for the items you have asked are as under
1.Television sets
2. audit visual
3.Mobile phone
4.Intercom
All the above four items fall under Item (1) the Machinery and Plant . The rate of depreciation for the Financial Year 2004-05 is 25%. For the other Financial Years the rate of deporeciation is 15%.
Furniture and Electrical Fittings fall under the Category FURNITURE AND FITTINGS - Furniture and Fittings including electrical fittings ie. electrcal wiring, switches, sockets other fittings and fans etc. . The rate of depreciation for the Financial Year 2004-05 is 15%. For the otehr Financial years the rate of depreciation is 10%.
Best Wishes
Sathikonda
sandhya
(CA Final)
(185 Points)
Replied 06 March 2012
Thank you sathikonda for the quick and detailed reply!! very useful for me
thanks once again.
Sandeep Himatsingka
(SCM-Head)
(85 Points)
Replied 09 May 2012
From which site's address can I get the depriciation rates for the above 6 item for the acctg yr 2010-11, 2011-12 & current (2012-13).
arun kumar samal
(Article Assistant)
(21 Points)
Replied 01 July 2014
THANK YOU FOR KNOWING THE DEPRICIATION RATE DUE TO VERY URGENT FOR ME .THANK YOU ONCE AGAIN
CH.MARUTHI RAM
(TAX CONSULTANT)
(69 Points)
Replied 22 August 2014
SIR,
PLEASE UPLOAD THE INCOMETAX DEPRECIATION CHART AS REVISED. IT IS HELPFUL
TO ALL.
THANKING YOU
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