Block of Asset
This query is : Resolved
04 May 2011
Dep rate -
Building - 10%
Furniture - 10%
Electric Fitting -10%
Office Equipment - 15%
Computer - 60%
Software - 60%
Please Guide me how many block should be make here as per Income tax?
I created-
Building - 10%
Furniture + Electric Fitting -10%
Machine other than computer -15%
Computer - 60%
Software - 60%
Am i Right or Wrong?
Please Guide me.
Thanks
Building - 10%
Furniture - 10%
Electric Fitting -10%
Office Equipment - 15%
Computer - 60%
Software - 60%
Please Guide me how many block should be make here as per Income tax?
I created-
Building - 10%
Furniture + Electric Fitting -10%
Machine other than computer -15%
Computer - 60%
Software - 60%
Am i Right or Wrong?
Please Guide me.
Thanks
CA SAURABH GARG
(Expert)
05 May 2011
There may be at least 4 blocks as per income tax act.
Building 10%
Furniture+Electric fittings 10%
Machine other than computer 15%
Computer + Software 60%
Now its depend upon how you would take it for reconciliation with companies act depreciation schedule because there is only rate diff. nothing else.
Building 10%
Furniture+Electric fittings 10%
Machine other than computer 15%
Computer + Software 60%
Now its depend upon how you would take it for reconciliation with companies act depreciation schedule because there is only rate diff. nothing else.
05 May 2011
Thanks, Please tell me that Office Equipment will be included in Machine other than Computer.
05 May 2011
Dep rate -
Building - 10%
Furniture - 10%
Electric Fitting -15%
Office Equipment - 15%
Computer - 60%
Software - 60%
machinery - 15%
Building - 10%
Furniture - 10%
Electric Fitting -15%
Office Equipment - 15%
Computer - 60%
Software - 60%
machinery - 15%
05 May 2011
yes
what u r doing is correct
what u r doing is correct
Nikhil Kothari
(Expert)
16 May 2011
Yes you are correct.
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