rate of depreciation
This query is : Resolved
Indrajit Pujari
(Querist)
12 May 2010
What is the rate of depreciation on plant and machinery for the first year and the consecutive years
Akbar Mirza
(Expert)
14 May 2010
1)When Plant & Machinery is newly installed. then regular depreciation rate shall be 15% and additional depreciation shall be allow @ 20% for the first year if it is used for more than 180 days.
2)For consecutive years the rate shall be 15%.
2)For consecutive years the rate shall be 15%.
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NISHIT A. DOSHI
(Expert)
23 May 2010
Hi,
It is to be noted that to claim the additional depreciation in the first year, the unit should be a manufacturing unit.
REGARDS,
C.A.NISHIT DOSHI
It is to be noted that to claim the additional depreciation in the first year, the unit should be a manufacturing unit.
REGARDS,
C.A.NISHIT DOSHI
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