DEPRECIATION ON ELECTRIC FITTINGS

Tax queries 29931 views 9 replies

Shashi Bhushan

Learner Jalandhar

996 Points Joined February 2009

WHAT IS DEPRECIATION RATE ON ELECTRIC FITTINGS? AS MUCH I KNOW ITS INCLUDED IN FURNITURE & FITTINGS SO ITS RATE IS 10%. BUT SOME CAs ARE APPLYING 15% RATE IN RETURNS. WHAT IS CORRECT 10% OR 15%?

Replies (9)

Guest

Hi Shashi,

Basically both of the rates are correct, the application of it shall depend on the type of fitting used and classification made.

Manish Sodani

Executive (F & A) - ALSTOM India Ltd.

222 Points Joined January 2008

Yeah,

U must be getting different views on this query. In my view, if the electric fitting is used in the office then 10% rate should be applied. If it used at plant location, it will be a part of Plant & Machinery and 15% rate will be applicable.

pavan

articled clerk

38 Points Joined August 2009

Depreciation on electrical fittings if it is used for office furniture then it is 10%

other wise it is 15%

Ratan Deep Saxena

Asstt Manager (Accounts & Finance)

2998 Points Joined May 2009

Depreciation on Electrical Fittings is 10%. The term electric fittings includes electrical wiring, switches, sockets, other fittings & fan. Plz refer pg no. 72 & 77 of Direct tax ready recknor from Taxmann Publication. 32nd edition.

regards,

ratan

Shashi Bhushan

Learner Jalandhar

996 Points Joined February 2009

Originally posted by :Ratan Deep Saxena
"	Depreciation on Electrical Fittings is 10%. The term electric fittings includes electrical wiring, switches, sockets, other fittings & fan. Plz refer pg no. 72 & 77 of Direct tax ready recknor from Taxmann Publication. 32nd edition. regards, ratan	"

thank you ratan. i think this answer is right.

Shashi Bhushan

Learner Jalandhar

996 Points Joined February 2009

HERE i am giving wordings of Girish Ahuja:

Depreciation on furniture and fitting including electrical fitting: 10%

electrical fittings include electrical wiring, switches, sockets, other fittings and FANS, etc.

it means depreciation on FANS is also 10%.

am i right?

BHAGYESH RAVANGE

C.A Job

1528 Points Joined November 2007

Yeah You are right

Ritik Chopra

student

8138 Points Joined October 2017

As per note 5 to the depreciation table "Electrical fittings" include electrical wiring, switches, sockets, other fittings and fans, etc. Depreciation rate on Furniture and fittings including electrical fittings is 10%. So depreciation on Fan will also be 10%.