Rate of depreciation


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Querist : Anonymous

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Querist : Anonymous (Querist)
21 August 2012 i want to know the rate of depreciation as per income tax act for the followings :
1)Air Conditioner
2)T.V.
3)Inverter

21 August 2012 AC known as plant as machinery - @15%
TV & Inverter known as furniture & fixture - @10%

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 August 2012 other expert said that it should be 10% as per IT Act in CACLUBINDIA

21 August 2012 Depreciation rate on AC is 15%
Sundaram Motors Pvt. Ltd. vs. CIT, 71 ITR 587 (Mad)

21 August 2012 Yes, and on TV & Invertor You Can Classify These Assets as Furniture @10%

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 August 2012 thanks to all


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