Depriciation on printer?

60 %

Please specify, whether u require rate as per Companies Act or as  per the income tax act?

Sachin, it Depends on the management policy, Except for companies where the companies act rate shold be taken.

rate is 15% not 60%.

Hi

Well to solve this query, you first need to decide which asset bolck does the asset under question falls into

Any asset which is applied or utilized as part of Computer System, accesories & Software (Which may or not be able to work as stand alone) falls under block of Computer System & Software, eligible for depreciation at rate of 60% under Income-tax Act,1961 (refer sction 32) or

40% under Companies Act, 1956

Any other equipment (mechanical, electronic, electrical etc. in nature) will fall under block "Plant & Machinery" eligible for depreciation at rate of 15% under Income-tax rate.

15%

The rate of depreciation to be provided on printers is at the same rate as that of computers, i.e., 40% as per The Companies Act, 1956 and 60% as per The Income Tax Act, 1961.

It will not be treated as plant and machinery in any case.

agreed with devendra