RATE OF DEP UNDER CO. ACT

Save Share

This query is : Resolved

shoeb parwaiz (Querist)
Follow

30 April 2011 Dear All,

Would u please tell me rate of depreciation on following items under the Companies Act.
1.Machinery Used for Shoe Manufacturing
2.Air Conditioner
3.Loose Tools
4.Dies
5.Moulds
6.Generator
7.Furniture & Fittings

Thanks & Regards

Kumar Babu.G

Kumar Babu.G (Expert)
Follow

30 April 2011 All the below rates pertain to WDV method:
1.13.91%
2.13.91%
3.Has to be valued annually
4.30%
5.30%
6.13.91%
7.18.91%

shoeb parwaiz

shoeb parwaiz (Querist)
Follow

30 April 2011 Dear Kumar Sir,

Would u please explain "Has to be valued annually"

Also, thanks for your Prompt response.

Thanks & Regards

CA SAURABH GARG

CA SAURABH GARG (Expert)
Follow

01 May 2011 Has to be valued annually means

Loos tools are just like a consumable and not like the nature of long term use.
These tools valued like inventory if they are not pertaining to specifically to some machinery.
if they are pertaining to specific for a machiner then would be chargeable at same rate at which such machinery would have been charged.

CA. Krishna K Neeraj

CA. Krishna K Neeraj (Expert)
Follow

03 May 2011
https://www.knaca.in/OtherpageTheme1.aspx?TYPE=HORIZONTAL&CompanyID=0&PAGENAME=RATES OF DEPRECIATION&Parent=Utilities&Current=Rates of Depreciation Under Company Act

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now