Depreciation on ATM Machines

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Querist : Anonymous

Querist : Anonymous (Querist)

06 May 2010 ATM machines is to be taken as plant & machinery or will be a under computer grouping i.e. rate will be 15% or 60% as per income tax act

CA BIREN SHAH

CA BIREN SHAH (Expert)
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07 May 2010 ATM machine is related to banking co.
and banking co has their rate of dep on ATM.

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Querist : Anonymous

Querist : Anonymous (Querist)

07 May 2010 dear biren can u pls specify the rate as per income tax act , banking rates are as per company act

CA Prashant Gupta

CA Prashant Gupta (Expert)
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07 May 2010 I think ATM should be in electrical equipment for which 80% dep is allowed as per income tax act. It says
" Remote terminal units/intelligent electronic devices, computer hardware/software, router/bridges, other required equipment and associateed communication systems for supervisory control and data acquisition systems, energy management systems and distribution management system for power transmission systems."
I think second menion "intelligent electronic devices " will cover that.

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