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Depreciation rates- Tank pump

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BCom
113 Points Joined February 2020
Can anyone pls help me in this - What is the depreciation rate for tank and Pump as per income tax act It is used in a association
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On 30 April 2021 at 16:43 Report
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Chartered Accountant
24588 Points Joined November 2019
For pump depreciation rate is 15%.
Depreciation on storage tanks - @ 10% or 15% - building or plant and Machinery - the same falls within definition of a “plants” which has been used by the assessee in the business of hiring them for storage petroleum products.
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On 30 April 2021 at 18:39
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BCom
113 Points Joined February 2020
Thank you so much
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On 30 April 2021 at 18:43
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Chartered Accountant
24588 Points Joined November 2019
Your welcome
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On 30 April 2021 at 18:55
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2 Points Joined February 2024

what is rate of depreciation on LPG dispenser used in Autogas Stations...

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On 29 February 2024 at 11:35

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