Hi..I own a factory of computerised embrodery machines which works for 3 shifts...my query is what amount of depreciation i can claim as my tax benifits ?
Menu
Depreciation on MAchinery working for 3 shift
Replies (2)
As tax benifits you can only claim the rate prescribed in Income Tax Act.As far as I know, there is no such provision which allows more deduction for 3 shifts.
Thanks & regards,
Ramesh Kr Verma
THERE IS NO EXTRA DEDUCTION IN THE FORM OF DEORECIATION ON ANY ASSET WORKING FOR MORE THAN NORMAL WORKING HOURS (SHIFTS).
SUCH PROVISION IS THERE IN COMPANIES ACT BUT IT IS NOT ALLOEWED AS EXPENSE BY INCOME TAX ACT FOR TAX PURPOSES.
REGARDS,
CA RITESH KOTHARI
Recent Topic
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
- Please share the roc and income tax compliance fo
- Proprietor have 2 business. One is registered unde
- ITR-4 – Gross Receipts or Turnover for Secti
- Unrelated entries in AIS and Form 26as
- Payment to foreign national
Related Topics
CAclubindia
