Depreciation rate as per companies act -urgent
This query is : Resolved
11 November 2011
Hi
My client is a pvt ltd Co is in service industry which has purchased a guest house for official use. While purchasing the house each and every small item present in the house was purchased by the Company which will be valued on wdv. These items also cover Household items which will be used for office welfare purpose. Can any one please guide me what will be the rate of depreciation on Cutlery sets and Curtains assumig the value of individual items are above 5000/-. Its urgent
My client is a pvt ltd Co is in service industry which has purchased a guest house for official use. While purchasing the house each and every small item present in the house was purchased by the Company which will be valued on wdv. These items also cover Household items which will be used for office welfare purpose. Can any one please guide me what will be the rate of depreciation on Cutlery sets and Curtains assumig the value of individual items are above 5000/-. Its urgent
12 November 2011
For depreciaton rates
https://taxguru.in/company-law/rates-of-depreciation-under-the-companies-act-as-mentioned-in-schedule-xiv.html
you may group this cutlery sets and curtains under office equipments and charegd the rates of depn as 13.91%
https://taxguru.in/company-law/rates-of-depreciation-under-the-companies-act-as-mentioned-in-schedule-xiv.html
you may group this cutlery sets and curtains under office equipments and charegd the rates of depn as 13.91%
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