Depreciation on ATM Machine

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2 Points Posted on 03 December 2020
please know me the rate of depreciation on ATM machine for bank
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On 03 December 2020 at 17:37 Report
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This discussion clarifies the depreciation rate applicable to ATM machines for banks. While some might consider a 15% rate based on the IT Act, ATMs are classified as computers. Therefore, they are eligible for a higher depreciation claim of 60%.

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student
35 Points Posted on 03 December 2020
15% as per IT act
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On 03 December 2020 at 18:07
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574 Points Posted on 03 December 2020
ATMs are computers and therefore, assessee is eligible to depreciation of 60% on ATMs.
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On 03 December 2020 at 21:19

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