Can anyone suggest,whether we should take electronic appliances such as T.V.,Fridge,Music System,DVD Player under furniture or plant and machinery for depriciation purpose under IT Act and in which slab rate.
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Block of assets for electronic appliances
Replies (3)
According to me ,they should be taken under the head Plant & machinery and Depreciation should be calculated @ 15 %
yes , its Covered under Block 5 of Plant & Machinery and rate is 15%
its clearly define under block 5 that any plant or machinery not covered other block would be covered under block 5
Yes , they will be taken under 15% Block.
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