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DEPRECIATION RATE

Devendra (Chartered Accountant) (4780 Points)

20 October 2010

WHETHER THERE IS A SPECIAL RATE OF DEPRECIATION ON THE FURNITURE AND FITTINGS USED IN A THEATRE OR CINEMA HALLS? PLEASE REPLY... IT IS VERY URGENT..

REGARDS ,

DEVENDRA

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13 Replies

CA. Megha Topiwala (Job) (1534 Points)
Replied 20 October 2010

No... there is no special rate for furniture used in threaters n cinema halls... it is to be charged at its normal depreciation rate of 10% for furniture...

1 Like

CA Himanshu Bansal (Risk Manager) (2345 Points)
Replied 20 October 2010

Originally posted by : Megha Topiwala
	No... there is no special rate for furniture used in threaters n cinema halls... it is to be charged at its normal depreciation rate of 10% for furniture...

1 Like

Piyush Sanghi (CA) (172 Points)
Replied 21 October 2010

No... there is no special rate for furniture used in threaters n cinema halls... it is to be charged at its normal depreciation rate of 10% for furniture...

1 Like

Abhishek Shah (Associate) (56 Points)
Replied 21 October 2010

There is a special rate for furnitures used in cinema halls @ 25.88% if WDV and 9.5 % if SLM as per companies Act. As per Income Tax there is no different rates.

1 Like

Ca Aashish Upadhyay (CONSULTANTS) (913 Points)
Replied 21 October 2010

Originally posted by : Abhishek Shah
	There is a special rate for furnitures used in cinema halls @ 25.88% if WDV and 9.5 % if SLM as per companies Act. As per Income Tax there is no different rates.

abhishek is right!!!

1 Like

Abhishek Jain (RisK Manger) (231 Points)
Replied 21 October 2010

There is a special rate for furnitures used in cinema halls @ 25.88% if WDV and 9.5 % if SLM as per companies Act. As per Income Tax there is no different rates.

Agreed

1 Like