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Fixed Assets

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(Querist)
11 March 2010 If Company Purchase CCTV Camera for internal Purpose around of rs.700,000/-. Under which Ledger Head I can treat? Depreciation rate is applicable for CCTV Camera?

Thanks & Regards,
Vishwas
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
11 March 2010 YOU SHOULD SHOW CCTV CAMERA IN FIXED ASSETS UNDER THE HEAD OFFICE EQUIPMENT.
DEP RATE AS PER COMPANIES ACT IS 13.91% & DEP AS PER INCOME TAX ACT IS 15%.
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CA Robin Betala

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CA Robin Betala (Expert)
11 March 2010 It should be under fixed asset and should be chargeable to depriciate at a rate applicable to plant in incometax and companies act.
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