Depreciation rate on JCB excavetor like equipment

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UMESH RAVANI (Querist)
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27 November 2008 what is the rate of depreciation on JCB and excavetor equipment aas per incometax act. whether it is different rate of depreciation in order to arrivae in WDV in respect of ENTRY TAX CHARGES which is to be paid on current market vale/WDV .

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Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 October 2010

Though JCB has been categorized as an excavator and its main function is removing soil or earth, yet at the same time, JCB’s another function is to carry or transport removed soil and dump it at another site to discharge function like transshipment and loading into another vehicle and therefore, for the purpose of depreciation, JCB can be treated as a motor lorry and it would be eligible for higher depreciation at 40 percent.

CITATION:- Gaylord Constructions vs. ITO (2008) 175 Taxman (Magz.) 99 (Cochin)

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