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DEPRECIATION ON ELECTRIC FITTINGS

Shashi Bhushan (Learner, Jalandhar) (996 Points)

16 September 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%?

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9 Replies

(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)
Replied 16 September 2009

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.

1 Like

pavan (articled clerk) (38 Points)
Replied 16 September 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)
Replied 16 September 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)
Replied 16 September 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.

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Shashi Bhushan (Learner, Jalandhar) (996 Points)
Replied 16 September 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?

1 Like

BHAGYESH RAVANGE (C.A Job) (1528 Points)
Replied 16 September 2009

Yeah You are right

Ritik Chopra (student) (8123 Points)
Replied 09 February 2021

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%.