Deprecitation on windmill
This query is : Resolved
20 April 2010
HI ALL..
CAN U PLS PROVIDE WITH ME DEPRECIATION RATE ON WINDMILL.
CAN I CLAIM ADDITONAL DEP ON SUCH WINDMILL.
PLS REPLY.
THANKS ALL..
CAN U PLS PROVIDE WITH ME DEPRECIATION RATE ON WINDMILL.
CAN I CLAIM ADDITONAL DEP ON SUCH WINDMILL.
PLS REPLY.
THANKS ALL..
20 April 2010
Depreciation rate is 80%
Windmill falls under the head plant & machinery in the depreciation schedule and additional depreciation is allowable on plant & machinery only. So technically additional dep @ 20% should be allowed.
Windmill falls under the head plant & machinery in the depreciation schedule and additional depreciation is allowable on plant & machinery only. So technically additional dep @ 20% should be allowed.
20 April 2010
yes in short you can claim 100% depreciation in first year itself...
21 April 2010
IF THE SAME IS TAKEN UNDER LIMITED COMPANY NAME WHAT WOULD BE DEPRECIATION RATE.
21 April 2010
NORMAL RATE- 80%
ADDL. DEP-20%
ADDL. DEP-20%
22 April 2010
Companies rate as per companies act to be applied for books purpose only. For income tax purpose 100% depreciation allowable.
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