Bock of assets
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 August 2012
Whether Motor Car and Machinery will be part of same Block of Assets for the purpose of calculating depreciation u/s Income Tax Act, 1961, if rate of depreciation is same on both assets. or they will be part of different Block of Assets.
Kindly suggest.
Kindly suggest.
CA Sumiit B Nagpal
(Expert)
13 August 2012
They will be part of same block i.e. 15% if they both are entitled to same rate of depreciation otherwise different blocks..
Ravi Jhamb
(Expert)
13 August 2012
Both are the part of the same block and charge 15% Depreciation as per income tax 1961. There are certain block.
Furniture & Fixture.
Computer.
Plant & Machinery
Building
Furniture & Fixture.
Computer.
Plant & Machinery
Building
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