Depreciation plays a vital role in deciding the taxable profits from business and profession. I am fastening attach over here the depreciation rates chart as per income tax act and depreciation rates as per company act. For the layman, who encounter hardship to comprehend the chart of depreciation rates, depreciation rates in nutshell is also here. So first let’s talk about some common doubt about the depreciation.
New asset acquired and put to use for part of the year at which rate is depreciation allowed.
Where an asset is acquired by the assessee during the previous year and put to use for the purposes of business or profession for a period of less than 180 days in that previous year, the depreciation in respect of such asset shall be restricted to 50 per ceent.
Vechicles are entitled for higher depreciation of 50%
A higher depreciation rate of 50% has been provided on new commercial vehicles which are acquired on or after 1.1.2009 but before 1-10-2009 and is put to use before 1-10-2009 for the purpose of business and profession as the finance (No.2) Bill, 2009 the extension of 6 months was announced.
| Sr.No. | Particular of Assets | Depreciation Rates |
| 1 | Building:
Residential Factory |
05
10 |
| 2 | General Plant & Machinery | 15 |
| 3 | Motor Car | 15 |
| 4 | Motor Buses/Lorries Used in Hire | 30 |
| 5 | Computer including Software | 60 |
| 6 | Furniture | 10 |
| 7 | Patents, Know-How, Copyrights, Licenses etc. | 25 |
Depreciation Rates as Per Income Tax Act
Depreciation Rates as Per Company Act
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{ 12 comments… read them below or add one }
Thanks for sent the depreciation rates.
Pls arrange the deductions of 80 to 80uu,
Deductions of 80c to 80u briefly
what is depreciation rate if commercial vehicles purchase in April 2009 & March 2010.
Please guide how to get depreciation rates as per Income Tax Act for the following
1)Mines And Querries
2)Mines and quarries-Portable
underground machinery and
earth-moving machinery used
in open caste mining
3)Mines and querries:
a) Surface and underground machinery (other than electrical machinery and portable underground machinery)
b) Head-gears
c) 9[***]
d) Shafts and inclines
e) Tramway on surface
4) Jetties & dry docks
5)Vessels ordinarily operating
on inland waters-
Also both as per Companies Act as well as Income Tax Act for Helipad & Helipad Lighting System
helo
at what rate depreciation on close cicuite cameras should be charged?
hi
i would like to whether countervailing duty & special additional duty on import of machinery is eligible capitalisation?
Hi, What is the percentage of depreciation, how to calculate the depreciation as per Income Tax Act.
What is the Depreciation rates of All Fixed Assets on the Income tax 2010-2011
please someone help to tell “In which main head equipment and mobile phone falls and what rate of depreciation charged on the same”???
i want to depreciation rate in 2010 to 2011
What is the rate of depreciation for two wheelers
I want to know, what is the rate of depreciation for lorry which is purchased second hand (after using 2 years)?