What is the depreciation rate for Mobile phones?? Can it be classified under Machinary @ 15% or @ 60%??
CA Praveen Nair (Business Analyst) (99 Points)
24 July 2009What is the depreciation rate for Mobile phones?? Can it be classified under Machinary @ 15% or @ 60%??
Pankaj Bohara
(Chartered Accountant)
(28 Points)
Replied 25 July 2009
Originally posted by :Praveen Nair | ||
" | What is the depreciation rate for Mobile phones?? Can it be classified under Machinary @ 15% or @ 60%?? | " |
The mobile phones do not fall under the Block of Computers under the Income tax Act. The same falls under the plant & machinery and therefore the rate of depreciation falls under 15% and not at 60%
CA Dhiraj Ramchandani
(CA, M. com)
(10823 Points)
Replied 25 July 2009
Originally posted by :chandrashekar.p | ||
" | Mobile phone falls under office equipments | " |
nope..
mobile are not charged under office equipments
sandeepverma
(don't make exuse for study)
(304 Points)
Replied 25 July 2009
15 % bcz mobile phone is not coverd in computer equipemt , its covered in machinery
Gourav bansal
(Student)
(24 Points)
Replied 25 July 2009
Mobile phone it is a part of office equiment & Dep. rate @ 15%
vicky
(article)
(44 Points)
Replied 25 July 2009
Mobiles r charged at 15% as it will be classified under Machineries under Income Tax Act, 1961..
CA. SUDHARSAN K G
(Chartered Accountant)
(472 Points)
Replied 25 July 2009
Friends,
Mobile Phones are just Office Equipments which qualifies for 15% Dep as per our Act.
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 25 July 2009
liable to depreciation at the rate of 15%
Venkatesan.k
(Executive Finance )
(238 Points)
Replied 21 August 2009
what will be the depreciation rate or classification in the case of Sch XIV of companies act, 1956?
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)