Depreciation on Forklift and Pallet Truck
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 October 2010
We are using Forklift, Pallet Trucks and Mobile Cranes in our company.
All the above mention assets are coming under Motor car or Plant and Machinery for depreciation purpose? Pls advice.
All the above mention assets are coming under Motor car or Plant and Machinery for depreciation purpose? Pls advice.
29 October 2010
It will come under plant & Machinary. As per vechile Act, all three are not covered under Vehicle.
Message likes :
1 times
30 October 2010
hi.
as per co. act for calculation of dep. we consider all these vehical in big vehical and dep. charge @30% but as per income tax we take all vehical in plant & machinary.
as per co. act for calculation of dep. we consider all these vehical in big vehical and dep. charge @30% but as per income tax we take all vehical in plant & machinary.
Message likes :
1 times
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Employee secondment
- IMS (import of goods) ITC related
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Capital Gains Tax on Inherited Mutual Fund
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation Error – Mandatory Fields
- LLP audit and disclosure
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Ito add credit side of bank
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
