Upgrad LLM

definition of plant & machinery & equipment


Can anyone let me know what plant & machinery and Equipment means as per Micro, Small and Medium Enterprise Development Act?

 
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Legal

The definition of fixed asset under MSME act will be the same as per the other industry covered under Income Tax act, irrespective of its classification. And at the same time sec 32 of Income tax act will govern the depreciation rates on these fixed assets.

 
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