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Gandhar Palkar   22 June 2021

Depreciation rate for fire fighting equipment

Under which class of asset will fire fighting equipment will be classified and what will be the applicable depreciation rate?


 4 Replies

CMA Poornima Madhava

CMA Poornima Madhava (CMA)     22 June 2021

I think it would be classified as plant & machinery with a rate of depreciation @ 15% as per income tax act.

Sourav

Sourav (Student)     22 June 2021

It will be treated as plant and machinery @ 15% depreciation
Lotus Choudhary

Lotus Choudhary   24 June 2021

Agreed
Sourav

Sourav (Student)     24 July 2021

Thank you

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