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Depreciation Rate

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(Querist)
14 March 2009 Sir/Madam

What is the depreciation rate as per Companies Act & Income Tax Act for Leasehold equipments such as office interiors & furniture & fittings. Can we write off in the period of lease holding?
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Reetika Goel

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Reetika Goel (Expert)
14 March 2009 The fact that you lease hold a property doesn't have any impact on Depreciation rate..
Though, their accounting treatment is quite different from the one which is freehold, but under both the Acts nothing on this context regarding depreciation is provided.
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