depreciation as per companies act
What is depreciation rate for crane as per companies act?
As per as per Part "C" of Schedule II of The Companies Act 2013, depreciation rates on crane with capcity more than 100 tons is 4.75% under SLM and 13.91% under WDV.
Cranes with capacity of less than 100 tons, depreciation rates are 6.33% and 18.10% under SLM and WDV.
Also the rates depends the purpose for which cranes are used, the above rates are applicable if cranes are used in Civil Construction.