Depreciation
This query is : Resolved
25 February 2016
Dear Sir/Madam,
Please provide the details of depreciation available for LED lights used in factory for industrial purpose as per income tax act.
Your early response is very useful.
with regards
S.SREEDEVI
Please provide the details of depreciation available for LED lights used in factory for industrial purpose as per income tax act.
Your early response is very useful.
with regards
S.SREEDEVI
25 February 2016
10% being 'electrical fittings' comes under Clause II of Part A of Appendix-1 of Income tax Rules,1962.
25 February 2016
Dear Sir,
That 10% is applicable for general electrical fittings.
For Enegy saving devices Depreciation is 80%. LED lights are used to save electricity as energy savers. So, I have a doubt that the depreciation of 80% is applicable for this or not.
Please clarify
with regards
S.SREEDEVI
That 10% is applicable for general electrical fittings.
For Enegy saving devices Depreciation is 80%. LED lights are used to save electricity as energy savers. So, I have a doubt that the depreciation of 80% is applicable for this or not.
Please clarify
with regards
S.SREEDEVI
25 February 2016
To claim 80%, two conditions are to be satisfied, viz.,
i) it should be 'plant and machinery'
ii) it should come under any of the items mentioned in clause III (8) (ix) (A) to (G) of Appendix-I
Have a 2nd thought in the light of the above observation.
i) it should be 'plant and machinery'
ii) it should come under any of the items mentioned in clause III (8) (ix) (A) to (G) of Appendix-I
Have a 2nd thought in the light of the above observation.
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