Depreciation IT Act
Vipul Acharya (Account Officer) (628 Points)
09 December 2019
What is the Rate of Depreciation as per IT Act on Electric Panel.
Vipul Acharya (Account Officer) (628 Points)
09 December 2019
Shubham Gupta
(Business Consultants)
(2077 Points)
Replied 09 December 2019
15%, considering electric panel is part of machinery
The general rate of depreciation for machinery is 15%. Moreover, additional depreciation of 20% is available in the first year for the business involved in power generation, distribution and, industrial undertaking
Vipul Acharya
(Account Officer)
(628 Points)
Replied 09 December 2019
Shivam RC
(Student)
(23678 Points)
Replied 14 December 2019
Accounting
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