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Depreciation rate

PRIJIMOL K (Accountant ) (27 Points)

25 January 2017

Sir I want to know about the depreciation rate of Induction cooker & casserole

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sivaram (Asst Mgr-Taxation) (6918 Points)
Replied 25 January 2017

15% is the Income tax rate

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sivaram (Asst Mgr-Taxation) (6918 Points)
Replied 25 January 2017

15% is the Income tax rate

sivaram (Asst Mgr-Taxation) (6918 Points)
Replied 25 January 2017

15% is the Income tax rate

PRIJIMOL K (Accountant ) (27 Points)
Replied 27 January 2017

Sir, I want to know the depreciation rate under Companies Act,2013 also. If the depreciation rate under income tax is 15%, under which category the casserole will come?

sivaram (Asst Mgr-Taxation) (6918 Points)
Replied 27 January 2017

In Income tax act it is under plant and machinery for companies act you refer Schedule III under Office Equipments Useful Life in Years would be given depending upon the metthod of depreciation you follow either straight line or WDV in Financials depreciate accordingly

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