Rate of depreciation on mobile phone

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..... I have included my new mobile phone in my proprietary business as a fixed asset ( i even bought it in the name of my firm) What shall be the rate of depreciation? Will be 15%(plant and machinary) or .....

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..... 40%(computers)? I shall also be claiming ITC on the gst paid on buying this phone? I Hope i am eligible for it. - Reply By Ganeshan Kalyani - The Reply = Sir, if you claim ITC you cannot capita .....

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..... lize the GST component. If you want to claim depreciation then do not take ITC. In my view, the rate of depreciation on mobile is 15%. - Reply By YAGAY andSUN - The Reply = Depreciation rate under .....

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..... company's act for plant machinery is 13.91 % (mobile taken as plant machinery) as per income tax act 15%. Since you are a proprietary firm, therefore it will be 15% depreciation on the Mobi .....

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..... le Phone. - Reply By Ashish Agarwal - The Reply = Thank you all - Rate of depreciation on mobile phone - Query Started By: - Ashish Agarwal Dated:- 19-5-2020 Income Tax - Got 3 Replies - Income .....

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..... Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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