Depreciation u/s 32 in respect of plant and machinery.

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..... uring that depreciation allowance in respect of machinery and plant installed in such concerns is allowed at the general rate of 7 per cent. 2. It has since been brought to the notice of the Board the machinery and plant used for manufacturing safety razor blades broadly falls in the following 3 categories:- (a) Machine tools. (b) Electrical machinery. (c) General machinery. Under the rates o .....

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..... ciation have been prescribed in respect of machinery and plant specified under item III(ii) of the Table and a general rate of 10 per cent is applicable to machinery and plant (not being a ship) for which no special rate is prescribed. 4. These instructions may please be brought to the notice of all I.T. Officers in your charge.
Circular, Trade Notice, Public Notice, Instructionsor Office ord .....

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