depreciation
This query is : Resolved
15 June 2011
What is the depreciation treatment of import of secound hand machinery?
15 June 2011
Charge depreciation at 15% or specific rates provided in the Depreciation Schedule of IT on Cost of Machinery which includes all the incidental charges like freight, insurance, customs, loading, unloading, transportation, erection etc.
15 June 2011
It has been decide that depreciation may be allowed for arriving at the assessable value of second-hand machinery on the following scale : -
i)For every quarter during first year 4% 16
ii)For every quarter during 2nd year………..3% 12
iii)For every quarter during 3rd year.2. 50% 10
iv)For every quarter during 4th year………..2% 8
-------
Subject to an overall limit of 70% 46
i)For every quarter during first year 4% 16
ii)For every quarter during 2nd year………..3% 12
iii)For every quarter during 3rd year.2. 50% 10
iv)For every quarter during 4th year………..2% 8
-------
Subject to an overall limit of 70% 46
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Type of Capital Gain
- Exiting partner in partnership firm in gst portal
- TDS on property - Form 141 query
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- GST ON TRAVELLING BILLS
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Loss of interest in PF transfer from EPFO to Trust
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
