Depriciation
Querist : Anonymous
I HAVE CLAIMED DEPRICIATION ON AIRCONDITIONER,FAX MACHINE, REFRIGERATOR,TELEPHONE & WATER COOLER @ 15% BUT THE ASSESSING OFFICER HAS ALLOWED ONLY 10% DEPRICIATION ON ABOVE SAID ASSESTS. I WANT TO KNOW THE CORRECT RATE OF DEPRICIATION ON ABOVE SAID ASSESTS AS PER INCOME TAX ACT .
GIRISH KUMAR
Querist : Anonymous
Thanks for your reply.
The ITO has disallowed Depriciation @ 15% by saying that these items are known as block of Furniture & fitting on which depriciation is allowable @10%.
Kindly guide me.
Girish Kumar
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