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Block of asset of face reading machine under income tax act

Tax queries 635 views 5 replies
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Student CA Final
33 Points Posted on 07 March 2014

Hi,

face reading machine purchased to keep track of presenties of workers and other office staff.

Whick block should I choose to book this item?

Priyanka Mane(artical assistant)

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On 07 March 2014 at 15:30 Report
Replies (5)
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Keen to learn something new every moment
2588 Points Posted on 07 March 2014

I think it should be computer or electrical category bcz it a knid of software which is used to keep monitoring over the presentation. 

2 Reply
On 07 March 2014 at 16:25
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Student CA Final
33 Points Posted on 07 March 2014
It is not a software. It is a machine. But not used for production activity. So can it will be consider as furniture and fixtures?
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On 07 March 2014 at 18:14
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Head Of Department (Accounts & Finance)
1479 Points Posted on 07 March 2014
Dear Priyanka if it is machine then classify it as office equipment (15% depriciation under income tax) otherwise if it is software it will be classify under computer & software(60% depriciation under income tax) I hope now you will be clear on the same.
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On 07 March 2014 at 20:05
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Student CA Final
33 Points Posted on 07 March 2014
Why it cannot be classified under fixure since it is not used for production. I hope you understand my query.
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On 07 March 2014 at 20:10
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Keen to learn something new every moment
2588 Points Posted on 07 March 2014
yes it will be under fixture
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On 07 March 2014 at 22:57


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