Depreciation rate
This query is : Resolved
29 January 2008
It will be onland drilling Rig,Mounted on carrier/chassis with Tyre.This will work together with few items like Drill pipes,Mud pump,Motors,welding machine,Tanks,Safety equipment,Generators,Containers.they can be singly identified items as well package of one.The working of that machine is drilling and workover rig in oil and exploration field.
i want to know depreciation rate as per income tax act and as per company act.
i want to know depreciation rate as per income tax act and as per company act.
29 January 2008
Its a equipment forming part of group Plant & Machinery. General rate of depreciation will be applicable 50% in IT if its a water treatment or supply plant as a whole and 15% if its not that.
29 January 2008
AND 30% WDV rate in CA if its a earth moving / earth drilling machine else 13.91% WDV.
Therefore please specify the working of that machine and not the technical structure of that.
Therefore please specify the working of that machine and not the technical structure of that.
29 January 2008
The working of that machine is drilling and workover rig in oil & exploration field.
30 January 2008
general rates will be applicable as stated above
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