Depreciation
This query is : Resolved
02 March 2013
Please tell me the rate of depreciation on locomotive according to income tax act.
03 March 2013
Locomotives are treated as Plant and depreciation @ 15% can be provided.
.
Please follow the link to read an interesting case law-
law.incometaxindia.gov.in/dittaxmann/incometaxacts/2008itact/%5B2003%5D133Taxman0337(Cal).htm
.
Please follow the link to read an interesting case law-
law.incometaxindia.gov.in/dittaxmann/incometaxacts/2008itact/%5B2003%5D133Taxman0337(Cal).htm
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