As per Act, Mobile phones are taken in 15% depreciation category which takes much time to write off the entire value. Whereas within 2 years the value of such phone will obviously come down. So in that case, why cant we take it under Computers and Accessories and depreciate @ 60%?
Menu
Mobile phone dep rate
Replies (5)
Depreciation Rate under companies Act is 13.91% and under IT act it is 15%.
- If the value of phone is less than 5000 INR then, 100% depreciation shall be provided
- else, As per co's act it 13.9 %
- else, As per IT act 15 % under the plant and machinery block
Any ways it has to be capitalised as per the definition of Fixed Asset and Capital Expenditure.
HI Sir,
Can you please tell me the Dep.Rate for mobile handset for fy 2016-17 as per Companies act 2013
Can you please let me know the depreciation applicable now on mobile phones?
Cell phones are not listed property.
You can deduct or depreciate cell phones under the regular rules for business property. You don't need detailed documentation on usage.
You must use your listed property continuously for more than 50% of the time for business purposes.
Recent Topic
- AIS UTILITY
- NPS Premature withdrawl -Tier 1 Account
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
Related Topics
CAclubindia
