Depreciation u/s 32 of i.t act.
This query is : Open
26 April 2012
Please let me know the rate of Depreciation on CCTV Camera & Television if the same is installed/held within Factory Premises & used for Business Purposes as per section 32 of I.T. Act. Moreover in which Block of Asset the same are to be classified for I.T. Purposes.
26 April 2012
Under plant & machinery @ 15%
26 April 2012
As per accounts, under Office equipment. However for IT, it will fall under P&M only.
27 August 2012
According to me cctv camera must be attached with a computer, so it can be charged at 60% dep as per income tax
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