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.
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..
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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