rate of depreciation

This query is : Resolved

Prakash (Querist)
Follow

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.

Sanjay

Sanjay (Expert)
Follow

06 November 2008 As per Income tax, the rate of depreciation will be 15% on Written down value method.

CA Tilak Raj Sharma

CA Tilak Raj Sharma (Expert)
Follow

08 November 2008 As per Co. Act rate of dep. will be 13.91% and As per IT Act 15% on WDV basis.

Prakash

Prakash (Querist)
Follow

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.

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

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Soumitra Patra

Kumarasamy Chandramoorthi

swaminathan

prasanth kona

CA.Pinank Arvindbhai Shah

Subscribe Now

rate of depreciation

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

Accountant

CA Final

GST CONSULTANT

GST CONSULTANCY