Menu
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?
Replies (5)
I think it would be classified as plant & machinery with a rate of depreciation @ 15% as per income tax act.
It will be treated as plant and machinery @ 15% depreciation
Agreed
Thank you
15% in Income Tax Act, 1961
Recent Threads
- Withdrawal from composition under GST
- FORM NO 9-LLP ACT
- Conversion of CCD into Equity Shares
- Crypto Tax Software
- E-Way Bill Expiry Emergency, How Do You Handle It
- Clarification on income from tution
- PF ,ESI REGISTRATION at shram suvidha portal
- Small intraday trading..whether ITR 2 can be used?
- Traditional Style Accounting and Professional Acco
- Digital Content Creator Having Income under TDS-19
Related Threads
CAclubindia
