CA
32 Points
Joined March 2009
Hi Kannan
Mr. Varun, Shir Vidya and Darshu have written exactly right answer but it is not complite as they have not maintioned the Additional Depreciation available to the manufacturing concern against new plant and machinery. They can claim 20 % extra deprecialtion in first year. It is not available, if concern have bought any old machinery.
Normaly rate of depreciation as per income tax act
Computer 60%
Furniture 10%\
Plant & Machinery 15%
thanks
Praveen Thakur