Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 March 2013
Dear Sir,
Suppose an assessee provides service of weighting machine to carriege trucks.
Please clarify on following points -
1. Whether he can opt Section 44AD.
2. If he purchases Batteries for inverter used for running of weighting machine, then this expence will come in P&L A/c as a business expenditure
or
it will come in the table of fixed assets and charge depreciation there on in P&L A/c.
3. What would be rate of depreciation on Batteries of inverter.
Please advise me.
Thanks in advance.
Suppose an assessee provides service of weighting machine to carriege trucks.
Please clarify on following points -
1. Whether he can opt Section 44AD.
2. If he purchases Batteries for inverter used for running of weighting machine, then this expence will come in P&L A/c as a business expenditure
or
it will come in the table of fixed assets and charge depreciation there on in P&L A/c.
3. What would be rate of depreciation on Batteries of inverter.
Please advise me.
Thanks in advance.
CA PARAS BAFNA
(Expert)
03 March 2013
1. He can Opt Section 44AD.
2. The cost of batteries may be added to the
cost of inverter as these provide an enduring benefit.
3. Rate of Depreciation applicable- 10%.
.
2. The cost of batteries may be added to the
cost of inverter as these provide an enduring benefit.
3. Rate of Depreciation applicable- 10%.
.
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