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,
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).
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