Definition of plant & machinery
This query is : Resolved
akhil garg
(Querist)
21 April 2016
Dear Experts,
To claim the additional depreciation the assets should be cover in the definition of plant & machinery, please let me know the definition of plant & machinery which assets will be cover in it,
Thanx & Regard
Akhil Garg
To claim the additional depreciation the assets should be cover in the definition of plant & machinery, please let me know the definition of plant & machinery which assets will be cover in it,
Thanx & Regard
Akhil Garg
Amol S Joglekar
(Expert)
21 April 2016
Generally speaking, plant and machinery is an asset that is used by a business for the purpose of carrying on the business and is not either stock in trade or the business premises or the part of the business premises. The difference between plant and machinery is that generally machinery will have moving working parts, and plant will not (though computers and similar electronic devices are considered to be machinery, despite have no moving parts).
21 April 2016
Any new machinery or plant other than ship/aircraft/office appliances/road transport vehicles.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Reward for festival
- 18% Rent a cab
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Rectification under processing even after 6 months cpc portal
- RCM and same line
- Capital gain on commercial property and investment in residential property
- Rent agreement of House of deceased person
- Appointment of Auditor By Form ADT-1
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
