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%?
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DEPRECIATION ON ELECTRIC FITTINGS
Replies (9)
Hi Shashi,
Basically both of the rates are correct, the application of it shall depend on the type of fitting used and classification made.
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.
Depreciation on electrical fittings if it is used for office furniture then it is 10%
other wise it is 15%
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
| 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.
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?
Yeah You are right
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%.
Could someone please tell me the depreciation rate on solar power generating systems
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