Depreciation query
This query is : Resolved
01 November 2011
A tubewell has been constructed at a factory. A pump set has been installed to pull water from the tube well. The tubewell facilitates supply of water to the factory for production purposes with the help of pipes. These pipes also facilitate supply of water to gardens situated within the factory and also to other places like washrooms, basins, etc. I wanted to know the treatment of the Tubewell, Pump set & the Pipes for depreciation purpose. Under which head will the same be classified and what will be their respective rates of depreciation under companies act as well as Income Tax Act? Please reply at the earliest.
furthermore
if we say tht it cms in plant and machinery then wat abt this :-
"Buildings" include roads, bridges, culverts, wells and tube wells.then how it will be considered as P&M?
furthermore
if we say tht it cms in plant and machinery then wat abt this :-
"Buildings" include roads, bridges, culverts, wells and tube wells.then how it will be considered as P&M?
08 November 2011
You can take the tube well unit under the head Building. For Depreciation Rates pl. follow the link -
https://www.caclubindia.com/forum/depreciation-rate-chart-52539.asp
https://www.caclubindia.com/forum/depreciation-rate-chart-52539.asp
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
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Nomination of Bank for refund in itr 2
- Rent lease agreement
- TDS Challan Code
- Refund of 20%pre-deposit paid for stay application
- Relief u/s Section 89
- REGARDING SECTION 44AE
- Entries in AIS regarding sale of units and shares
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
