Pls help

AS PER IT ACT 1961 UNDER SECTIION 32 THE DEPRICIATION RATE ARE AS FOLLOWING :

1. ELECTRIC FITTING IN FACTORY ===10% AS FURNITURE AND FITTING HEADING
2. WATER COOLER                          ===15% AS PLANT AND MACHINARY
3. MOBILE                                          ===15%AS GENRAL PLANT AND MACHINARY
4. TELEPHONE AT ANYWARE       ===00%  IF IT IS NOT PURCHASE OTHERWISW 15% AS P&M

Definition of P & M is changed.

As per section 43(5) plant and machinery

includes..... 

excludes furniture, building, livestock and tea bushes.

Therefore the above answer stand the test of time in changed circumstances.

thanks

CS K.K. Agrawal

https://taxbykk.blogspot.com/

SIR I AM ATTACHING THE DOC MEANING OF PLANT AND MACHINARY AS PER TAX LAW UNDER SECTION 43(3)