Friends, Kindly say the depreciation rate at which the windmill can be claimed
UNDER COMPANIES ACT
CA VIJAYAKUMAR S (a) (107 Points)
30 September 2010Friends, Kindly say the depreciation rate at which the windmill can be claimed
UNDER COMPANIES ACT
Aditya Maheshwari
(CA in Practice)
(35867 Points)
Replied 30 September 2010
Since there is no specific rate specified in schedule XIV for windmill the same will be depreciated as per rates applicable to Machinery i. e. 13.91%.
Tom S Peter
(Article)
(148 Points)
Replied 02 August 2011
Mr.Aditya isnt Windmill a continous process plant?
It has been mentioned in schedule XIV that depreciation rate for continous process plant is 15.33 %.
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