Componantisation of asset

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 September 2015 As per new rules existing as well as new assets are to be componantised. so whether depreciation as per IT act to be provided on as per rate applicable to the particular componant or at the rate applicable to whole asset? e.g.: Elevator part of building is componantised. so as per IT act separate rate for building and elevator or same rate as it is integral part of building?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

17 September 2015 No componantisation required for IT provide depreciation as per rate applicable to whole asset.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

17 September 2015 Oh! That would be a very tedious job. We have to maintain record of different part of a assets with different rates of depreciation for Comnpanies Act. and a consolidated record of the whole asset under IT Act. The list of assets under both acts will never match and in case of error or mistake it will be hard to find out the same.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

tpksathyan narayanan

SHYAM SUNDER GULATI

Smrity

atul kumar soni

S N Unni

Subscribe Now

Componantisation of asset

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Manager- Finance and Compliance

Accountant

Senior Executive

GST CONSULTANCY

CA Final