Depreciation on rental plant & machinery
This query is : Resolved
Manoj Prasad
(Querist)
13 March 2013
A Company is having
Plant&Machinery on 1-10-2012 of Rs.1/-lakh
Land & Building on 1-10-2012 of Rs.3/-lakh
and has given it on rent
Now can the Company create depreciation, if yes please provide me the rate of interest for both in both way I.T Act and Co'Act 1956
and for how many months
plz reply
Plant&Machinery on 1-10-2012 of Rs.1/-lakh
Land & Building on 1-10-2012 of Rs.3/-lakh
and has given it on rent
Now can the Company create depreciation, if yes please provide me the rate of interest for both in both way I.T Act and Co'Act 1956
and for how many months
plz reply
CA Mahavir Shah
(Expert)
13 March 2013
Yes company can claim depreciation on both.
Rats of depreciation varies widely according to the nature of asset.
Rats of depreciation varies widely according to the nature of asset.
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