rate of depreciation
This query is : Resolved
05 November 2008
We have fmcg co. We purchased a truck on 1.4.2008 and use for own co. for delivery of FMCG goods to our distributor or retailer. We collect delivary charges or distribution cost by raised excise invoice for this delivery. So, What will be the rate of depreciation for truck (vehicle) as per IT & as per company act for delivery own goods to distributor & collect delivery charges.Delivery charges or distribution cost shown seperately in excise invoice at the time of delivery.
06 November 2008
As per Income tax, the rate of depreciation will be 15% on Written down value method.
08 November 2008
As per Co. Act rate of dep. will be 13.91% and As per IT Act 15% on WDV basis.
11 November 2008
Sir,
But Sir in company act. schedule XIV- II- B-9 Depreciation rate for truck (vehicle ) is 30% and Plant & machinery is 13.91%. Please sir clear this confusion am I right or wrong.
But Sir in company act. schedule XIV- II- B-9 Depreciation rate for truck (vehicle ) is 30% and Plant & machinery is 13.91%. Please sir clear this confusion am I right or wrong.
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