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DEPRECIATION

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(Querist)
16 July 2009 A co. which other than an event management co., if organises an event, will it be allowed to claim deduction for the prize money so distributed by it? Will it be allowed to claim other expenses for organising the same event? If so, under which proviso or section will it come?
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(Querist)
16 July 2009 What is the rate of depreciation for UPS WITH BATTERY USED IN COMPUTER. Assesse main business was TAKING CLASSES USING COMPUTER.
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RAJESWARI S

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RAJESWARI S (Expert)
16 July 2009 UPS when used as part of the computer can be depreciated at the rate used for computers. If it is used for other office purposes then it shall be regarded as general purpose equipments/office equipments @ 15% as per IT Act, 1961
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
16 July 2009 Yes.
It will be allowed as deduction u/s 37 provided they are incurred wholly and exclusively for the purpose of business and on commercial expediency.
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chetan soni

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chetan soni (Expert)
17 July 2009 This will be part of your plant & Machinery. So the depreciation rate is 15%.
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