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
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...
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... |
 |
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...
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.
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!!!
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
N.U.V.Pavan Kumar
(gained knowledge as article student)
(27 Points)
Replied 18 May 2011
hiiiiiiii
I am doing Audit of 1,000Crores turnover company which producing sunflower oil.
they going to charge additional deprecation on WDV of total assets of the company @ 50% as per Income tax Act.
is they can do so as per Act. If yes. as per which section of the Act.
Ramdas D Ndawade
(Partner)
(22 Points)
Replied 19 December 2011
Hi,
This is Ramdas Tax Consultants
Can any tell me excat rates of Depreciation of followings
Flat
Mobile
Motor Bike
Vibrator Machine
Seprator Machine
Please help me it is very very urgent
Jayamanoj
(Senior Audit Executive)
(40 Points)
Replied 23 December 2011
as per Incometax ACt
Flat - 10%
Mobile, Motor Bike, Vibrator Machine, Seprator Machine all @ 15%
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