FIRE PROTECTION EQUIPMENT DEPRECIATION RATE

[Kusalava InternationalLimited]

Sir,

In which Assets group Fire Protection Equipment has to be shown and what is the rate of Depreciation as per companies Act and IT Act?

AI Summary

Fire Protection Equipment Classified Under Buildings for Depreciation Under Companies Act and IT Act A query was raised by a company regarding the classification and depreciation rate of fire protection equipment under the Companies Act and IT Act. Two responses were provided. One respondent suggested that fire protection equipment, such as fire alarms and sprinkler systems, is typically classified under buildings. Another respondent agreed, stating that these items generally fall under the building category for depreciation purposes.