• Nov
  • 02
  • 2014

Rates of Depreciation as Per Income Tax Act,1961

Posted In Income Tax | , | 83 Comments » Print Friendly and PDF

Block of Assets – The expressions Assets and Blocks of Assets w.e.f. 1-4-1999 shall mean a group of assets falling within a class of assets comprising:–

a. Tangible Assets being buildings, machinery, plant or furniture;

b. Intangible Assets being knowhow, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature; in respect of which same percentage of depreciations is prescribed.

Also Read-

Rates of depreciation

(for income-tax)

AS APPLICABLE FROM THE ASSESSMENT YEAR 2003-04 ONWARDS

Block of assets Depreciation allowance as percentage of written down value
AYs 2003-04 to 2005-06 AY 2006-07 onwards
1 2 3
PART A
TANGIBLE ASSETS
I. BUILDING [See Notes 1 to 4 below the Table]
(1) Buildings which are used mainly for residential purposes except hotels and boarding houses 5 5
(2)  Buildings other than those used mainly for residential purposes and not covered by sub-items (1) above and (3) below 10 10
(3)  Buildings acquired on or after the 1st day of September, 2002 for installing machinery and plant forming part of water supply project or water treatment system and which is put to use for the purpose of business of providing infra- structure facilities under clause (i) of sub-section (4) of section 80-IA 100 100
(4)  Purely temporary erections such as wooden structures 100 100
II. FURNITURE AND FITTINGS
Furniture and fittings including electrical fittings [See Note 5 below the Table] 15 10
III. MACHINERY AND PLANT
(1)  Machinery and plant other than those covered by sub-items (2), (3) and (8) below : 25c. 15c.
a.(2) Motor cars, other than those used in a business of running them on hire, acquired or put to use on or after the 1st day of April, 1990 20 15
(3)  (i) Aeroplanes – Aeroengines 40 40
b.(ii) Motor buses, motor lorries and motor taxis used in a business of running them on hire 40 30
 (iii) Commercial vehicle which is acquired by the assessee on or after the 1st day of October, 1998, but before the 1st day of April, 1999 and is put to use for any period before the 1st day of April, 1999 for the purposes of business or profession in accordance with the third proviso to clause (ii) of sub-section (1) of section 32 [See Note 6 below the Table] 40 40
(iv)  New commercial vehicle which is acquired on or after the 1st day of October, 1998, but before the 1st day of April, 1999 in replacement of condemned vehicle of over 15 years of age and is put to use for any period before the 1st day of April, 1999 for the purposes of business or profession in accordance with the third proviso to clause (ii) of sub-section (1) of section 32 [See Note 6 below the Table] 60 60
(v)  New commercial vehicle which is acquired on or after the 1st day of April, 1999 but before the 1st day of April, 2000 in replacement of condemned vehicle of over 15 years of age and is put to use before the 1st day of April, 2000 for the purposes of business or profession in accordance with the second proviso to clause (ii) of sub-section (1) of section 32 [See Note 6 below the Table] 60 60
(vi)  New commercial vehicle which is acquired on or after the 1st day of April, 2001 but before the 1st day of April, 2002 and is put to use before the 1st day of April, 2002 for the purposes of business or profession [See Note 6 below the Table] 50 50
(via) New commercial vehicle which is acquired on or after the 1st day of January, 2009 but before the 1st day of October, 2009 and is put to use before the 1st day of October, 2009 for the purposes of business or profession [See paragraph 6 of the Notes below this Table] 50
d.(vii) Moulds used in rubber and plastic goods factories 40 30
(viii)  Air pollution control equipment, being—
(a)  Electrostatic precipitation systems
(b)  Felt-filter systems
(c)  Dust collector systems 100 100
(d)  Scrubber-counter current/venturi/packed bed/cyclonic scrubbers
(e)  Ash handling system and evacuation system
(ix)  Water pollution control equipment, being—
(a)  Mechanical screen systems
(b)  Aerated detritus chambers (including air compressor)
(c)  Mechanically skimmed oil and grease removal systems
(d)  Chemical feed systems and flash mixing equipment
(e)  Mechanical flocculators and mechanical reactors
(f)  Diffused air/mechanically aerated activated sludge systems
(g)  Aerated lagoon systems 100 100
(h)  Biofilters
(i)  Methane-recovery anaerobic digester systems
(j)  Air floatation systems
(k)  Air/steam stripping systems
(l)  Urea Hydrolysis systems
(m)  Marine outfall systems
(n)  Centrifuge for dewatering sludge
(o)  Rotating biological contractor or bio-disc
(p)  Ion exchange resin column
(q)  Activated carbon column
 (x) (a) Solidwaste control equipments being – caustic/lime/chrome/mineral/cryolite recovery systems 100 100
(b)  Solidwaste recycling and resource recovery systems
(xi)  Machinery and plant, used in semi-conductor industry covering all integrated circuits (ICs) (excluding hybrid integrated circuits) ranging from small scale integration (SSI) to large scale integration/very large scale integration (LSI/VLSI) as also discrete semi-conductor devices such as diodes, transistors, thyristors, triacs, etc., other than those covered by entries (viii), (ix) and (x) of this sub-item and sub-item (8) below 40 30
(xia) Life saving medical equipment, being—
(a)  D.C. Defibrillators for internal use and pace makers
(b)  Haemodialysors
(c)  Heart lung machine
(d)  Cobalt Therapy Unit
(e)  Colour Doppler
(f)  SPECT Gamma Camera
(g)  Vascular Angiography System including Digital subtraction Angiography
(h)  Ventilator used with anaesthesia apparatus
(i)  Magnetic Resonance Imaging System
(j)  Surgical Laser 40† 40
(k)  Ventilators other than those used with anaesthesia
(l)  Gamma knife
(m)  Bone Marrow Transplant Equipment including silastic long standing intravenous catheters for chemotherapy
(n)  Fibreoptic endoscopes including Paediatric resectoscope/audit resectoscope, Peritoneoscopes, Arthoscope, Microlaryngoscope, Fibreoptic Flexible Nasal Pharyngo Bronchoscope, Fibreoptic Flexible Laryngo Bronchoscope, Video Laryngo Bronchoscope and Video Oesophago Gastroscope, Stroboscope, Fibreoptic Flexible Oesophago Gastroscope
(o)  Laparoscope (single incision)
(4)  Containers made of glass or plastic used as re-fills 50 50
(5)  Computers including computer software [See note 7 below the Table] 60 60
(6)  Machinery and plant, used in weaving, processing and garment sector of textile industry, which is purchased under TUFS on or after the 1st day of April, 2001 but before the 1st day of April, 2004 and is put to use before the 1st day of April, 2004 [See Note 8 below the Table] 50 50
(7)  Machinery and plant, acquired and installed on or after the 1st day of September, 2002 in a water supply project or a water treatment system and which is put to use for the purpose of business of providing infrastructure facility under clause (i) of sub-section (4) of section 80-IA [See Notes 4 and 9 below the Table] 100 100
(8)  (i) Wooden parts used in artificial silk manufacturing machinerye. 100 100
(ii)  Cinematograph films – bulbs of studio lights 100 100
(iii)  Match factories – Wooden match frames 100 100
(iv)  Mines and quarries :
(a)  Tubs, winding ropes, haulage ropes and sand stowing pipes 100 100
(b)  Safety lamps
(v)  Salt works – Salt pans, reservoirs and condensers, etc., made of earthy, sandy or clayey material or any other similar material 100 100
(vi)  Flour mills – Rollers 80 80
(vii)  Iron and steel industry – Rolling mill rolls 80 80
(viii)  Sugar works – Rollers 80 80
(ix)  Energy saving devices, being—

A. Specialised boilers and furnaces:

(a)  Ignifluid/fluidized bed boilers
(b)  Flameless furnaces and continuous pusher type furnaces
(c)  Fluidized bed type heat treatment furnaces 80 80
(d)  High efficiency boilers (thermal efficiency higher than 75 per cent in case of coal fired and 80 per cent in case of oil/gas fired boilers)

B. Instrumentation and monitoring system for monitoring energy flows:

(a)  Automatic electrical load monitoring systems
(b)  Digital heat loss meters
(c)  Micro-processor based control systems
(d)  Infra-red thermography 80 80
(e)  Meters for measuring heat losses, furnace oil flow, steam flow, electric energy and power factor meters
(f)  Maximum demand indicator and clamp on power meters
(g)  Exhaust gases analyser
(h)  Fuel oil pump test bench

C. Waste heat recovery equipment:

(a)  Economisers and feed water heaters
(b)  Recuperators and air pre-heaters 80 80
(c)  Heat pumps
(d)  Thermal energy wheel for high and low temperature waste heat recovery

D. Co-generation systems:

(a)  Back pressure pass out, controlled extraction, extraction-cum-condensing turbines for co-generation along with pressure boilers 80 80
(b)  Vapour absorption refrigeration systems
(c)  Organic rankine cycle power systems
(d)  Low inlet pressure small steam turbines
E.

Electrical equipment:

(a)  Shunt capacitors and synchronous condenser systems
(b)  Automatic power cut off devices (relays) mounted on individual motors
(c)  Automatic voltage controller
(d)  Power factor controller for AC motors
(e)  Solid state devices for controlling motor speeds
(f)  Thermally energy-efficient stenters (which require 800 or less kilocalories of heat to evaporate one kilogram of water)
(g)  Series compensation equipment
(h)  Flexible AC Transmission (FACT) devices – Thyristor controlled series compensation equipment 80 80
(i)  Time of Day (ToD) energy meters
(j)  Equipment to establish transmission highways for National Power Grid to facilitate transfer of surplus power of one region to the deficient region
(k)  Remote terminal units/intelligent electronic devices, computer hardware/software, router/bridges, other required equipment and associated communication systems for supervisory control and data acquisition systems, energy management systems and distribution management systems for power transmission systems
(l)  Special energy meters for Availability Based Tariff (ABT)
F.

Burners:

(a)  0 to 10 per cent excess air burners
(b)  Emulsion burners 80 80
(c)  Burners using air with high pre-heat temperature (above 300°C)

G. Other equipment:

(a)  Wet air oxidation equipment for recovery of chemicals and heat
(b)  Mechanical vapour recompressors
(c)  Thin film evaporators
(d)  Automatic micro-processor based load demand controllers 80 80
(e)  Coal based producer gas plants
(f)  Fluid drives and fluid couplings
(g)  Turbo charges/super-charges
(h)  Sealed radiation sources for radiation processing plants
f.(x) Gas cylinders including valves and regulators 80 60
(xi)  Glass manufacturing concerns – Direct fire glass melting furnaces 80 60
g.(xii) Mineral oil concerns:
(a)  Plant used in field operations (above ground) distribution – Returnable packages
(b)  Plant used in field operations (below ground), but not including kerbside pumps including underground tanks and fittings used in field operations (distribution) by mineral oil concerns 80 60
(xiii)  Renewal energy devices being—
(a)  Flat plate solar collectors
(b)  Concentrating and pipe type solar collectors
(c)  Solar cookers
(d)  Solar water heaters and systems
(e)  Air/gas/fluid heating systems
(f)  Solar crop driers and systems
(g)  Solar refrigeration, cold storages and air-conditioning systems
(h)  Solar steels and desalination systems
(i)  Solar power generating systems
(j)  Solar pumps based on solar-thermal and solar-photovoltaic conversion
(k)  Solar-photovoltaic modules and panels for water pumping and other applications 80 80
(l)  Windmills and any specially designed devices which run on wind-mills installed on or before March 31, 2012
(m)  Any special devices including electric generators and pumps running on wind energy installed on or before March 31, 2012
(n)  Biogas plant and biogas engines
(o)  Electrically operated vehicles including battery powered or fuel-cell powered vehicles
(p)  Agricultural and municipal waste conversion devices producing energy
(q)  Equipment for utilising ocean waste and thermal energy
(r)  Machinery and plant used in the manufacture of any of the above sub-items
(9)  (i) Books owned by assessees carrying on a profession—
(a)  Books, being annual publications 100 100
(b)  Books, other than those covered by entry (a) above 60 60
(ii)  Books owned by assessees carrying on business in running lending libraries 100 100
IV.SHIPS
(1)  Ocean-going ships including dredgers, tugs, barges, survey launches and other similar ships used mainly for dredging purposes and fishing vessels with wooden hull 25 20
(2)  Vessels ordinarily operating on inland waters, not covered by sub-item (3) below 25 20
(3)  Vessels ordinarily operating on inland waters being speed boats [See Note 10 below the Table] 25 20
PART B
INTANGIBLE ASSETS
Know-how, patents, copyrights, trademarks, licences, franchises or any other business or commercial rights of similar nature 25 25

 Notes -

a.  Jeeps are classifiable as motor cars — Crompton Engg. Co. (Madras) Ltd. v. CIT [1992] 193 ITR 483 (Mad.)/CAIT v. Good Hope Enterprises [1992] 197 ITR 236 (Ker.).

 b.  Trucks primarily used for assessee’s own business and occasionally let out on hire will not fall under this entry unless assessee carries on a business of running them on hire—CIT v. Manjeet Stone Co. [1991] 190 ITR 183 (Raj.); Vehicles plying between fixed points for carriage of passengers fall under this entry—ITO v. Sarojini Transports (P.) Ltd. [1986] 17 ITD 1014 (Mad.); Mobile crane mounted on a lorry falls under this entry—Gujco Carriers v. CIT [2002] 122 Taxman 206 (Guj.); Rigs and Compressors mounted on a lorry do not fall under this item—CIT v. Popular Borewell Service [1992] 194 ITR 12 (Mad.); Motor vans are akin to motor lorries or motor buses—Circular No. 609, dated 29-7-1991/CIT v. Kodak Ltd. [1990] 181 ITR 275 (Bom.); Ambulance van falls under this entry—CIT v. Dr. K.R. Jayachandran [1995] 212 ITR 637 (Ker.); Air-conditioned vehicles fall under this entry—CIT v. Urmila Goel [1986] 52 CTR (Delhi) 276.

 c.  40 per cent if conditions of rule 5(2) are satisfied.

 d.  Company manufacturing insulated wires and cables is not covered under this entry—CIT v. Falcon Wires (P.) Ltd. [1980] 123 ITR 427 (Mad.).

 e.  Machinery used for dyeing, bleaching and printing of cloth manufactured by some other person will not fall under this item—CIT v. Jaypee Dyeing House [1999] 239 ITR 418 (Bom.).

† Applicable from the assessment year 2004-05.

 f.  Mere fact that assessee sold some cylinders during the previous year will not convert the cylinders into stock-in-trade. The cylinders must be capable of containing gas, and there is no requirement that the cylinders must be filled with gas—Chawla Architects & Consultants (P.) Ltd. v. Asstt. CIT [1995] 54 ITD 330 (Bom.).

 g.  Petroleum company distributing gas for cooking purpose is a ‘mineral oil concern’—CIT v. Burmah Shell Oil Storage & Distribution Co. of India Ltd. [1978] 115 ITR 891 (Cal.); Vegetable oil is not a ‘mineral oil’—CIT v. Distillers Trading Corporation Ltd. [1982] 137 ITR 894 (Delhi).

Other Notes:

  1. “Buildings” include roads, bridges, culverts, wells and tubewells.
  2. A building shall be deemed to be a building used mainly for residential purposes, if the built-up floor area thereof used for residential purposes is not less than sixty-six and two-third per cent of its total built-up floor area and shall include any such building in the factory premises.

  3. In respect of any structure or work by way of renovation or improvement in or in relation to a building referred to in Explanation 1 of clause (ii) of sub-section (1) of section 32, the percentage to be applied will be the percentage specified against sub-item (1) or (2) of item I as may be appropriate to the class of building in or in relation to which the renovation or improvement is effected. Where the structure is constructed or the work is done by way of extension of any such building, the percentage to be applied would be such percentage as would be appropriate, as if the structure or work constituted a separate building.

  4. Water treatment system includes system for desalination, demineralisation and purification of water.

  5. “Electrical fittings” include electrical wiring, switches, sockets, other fittings and fans, etc.

  6. “Commercial vehicle” means “heavy goods vehicle”, “heavy passenger motor vehicle”, “light motor vehicle”, “medium goods vehicle” and “medium passenger motor vehicle” but does not include “maxi-cab”, “motor-cab”, “tractor” and “road-roller”. The expressions “heavy goods vehicle”, “heavy passenger motor vehicle”, “light motor vehicle”, “medium goods vehicle”, “medium passenger motor vehicle”, “maxi-cab”, “motor-cab”, “tractor” and “road-roller” shall have the meanings respectively as assigned to them in section 2 of the Motor Vehicles Act, 1988 (59 of 1988).

  7. “Computer software” means any computer programme recorded on any disc, tape, perforated media or other information storage device.

  8. “TUFS” means Technology Upgradation Fund Scheme announced by the Government of India in the form of a Resolution of the Ministry of Textiles vide No. 28/1/99-CTI of 31-3-1999.

  9. Machinery and plant includes pipes needed for delivery from the source of supply of raw water to the plant and from the plant to the storage facility.

  10. “Speed boat” means a motor boat driven by a high speed internal combustion engine capable of propelling the boat at a speed exceeding 24 kilometers per hour in still water and so designed that when running at a speed, it will plane, i.e., its bow will rise from the water.

  11. Where an asset is put to use for less than 180 days in a previous year in which it is purchased, depreciation thereon shall be allowed at 50% of the depreciation allowable in respect of the block of asset comprising such asset.

  12. Plant has been held to include:

  • movable partitions [Jarrold vs. John Good & Sons Ltd., 40 TC 681 (CA)]
  • sanitary & pipeline fitting [CIT vs. Taj Mahal Hotel, 82 ITR 44 (SC)]
  • ceiling and pedestal fans [CIT vs. Jagadees Chandran & Co., 75 ITR 697 (Mad.); Sundaram Motors Pvt. Ltd. vs. CIT, 71 ITR 587 (Mad.); CIT vs. Tarun Commercial Ltd., 151 ITR 75 (Guj)].
  • wells [CIT vs. Warner Hindustan Ltd., 117 ITR 15 (AP)].
  • hospital [CIT vs. Dr. B. Venkata Rao 111 Taxman 635 (SC)]. However, w.e.f. A.Y. 2004-05, it shall not include buildings, furniture and fittings.

13. Depreciation on assets acquired on hire purchase basis should be allowed to the hirer where the terms of the agreement provide that the equipment shall eventually become the property of the hirer or confer on the hirer an option to purchase the equipment [Circular No. 9 (R. Dis. No. 27(4) – IT/43), dated 23-3-1943].

14. Depreciation in respect of motor car manufactured outside India acquired on or after 28-2-1975 or before 1-4-2001 shall be allowed.

15. The claim of depreciation is mandatory w.e.f. A. Y. 2002-03 overriding Supreme Court’s decision in CIT vs. Mahendra Mills 109 Taxman 225 which held that the depreciation claim is optional.

  1. Total depreciation allowable in the year of succession/ amalgamation/demerger, to predecessor/amalgamating/ demerged co. and successor/amalgamated/resulting co. is to be restricted to depreciation allowable as if succession/ amalgamation/demerger had not taken place, and such depreciation is to be apportioned on the basis of number of days usage by each of them.
  • Depreciation is allowable even on jointly owned assets.

  • Additional Depreciation @ 20% of actual cost of new machinery or plant (other than ships and aircrafts) acquired and installed after 31st March, 2005 by an assessee engaged in the business of manufacture or production of an article or thing shall be allowed on satisfying certain conditions.

  • No amortisation benefits u/ss. 35A and 35AB can be claimed in respect of intangible assets.

  • In respect of depreciable assets employed in power projects, depreciation may be computed under the Straight Line Method on individual assets [Rule 5(1A)] — [Appendix IA]. Alternatively, the undertaking, may at its option, also claim depreciation at the normal rates (Rule 5(1) — Appendix I), subject to the option being exercised prior to the due date of filing the return of income. In the event of sale or disposal of such assets, if the sale consideration.

  • - is less than WDV of such assets– Balance (i.e., WDV – sale consideration) can be claimed as depreciation, provided that such a deficiency is written off in the books.

    - is in excess of the WDV — Excess (to the extent of the difference between actual cost and WDV will be taxable as Business profit and the balance as Capital Gains)

    Depreciation rates for power generating units

    (applicable from the assessment year 1998-99

    Class of assets Depreciation allowance as percentage of actual cost
    (a)  Plant and Machinery in generating stations including plant foundations :—
     (i)  Hydro-electric 3.4
    (ii)  Steam electric NHRS & Waste heat recovery Boilers/plants 7.84
    (iii)  Diesel electric and Gas plant 8.24
    (b)  Cooling towers and circulating water systems 7.84
    (c)  Hydraulic works forming part of Hydro-electric system including :—
      (i)  Dams, spillways weirs, canals, reinforced concrete flumes and syphons 1.95
    (ii)  Reinforced concrete pipelines and surge tanks steel pipelines, sluice gates, steel surge (tanks), hydraulic control valves and other hydraulic works. 3.4
    (d)  Building and civil engineering works of permanent character, not mentioned above
     (i)  Office & showrooms 3.02
    (ii)  Containing Thermo-electric generating plant 7.84
    (iii)  Containing Hydro-electric generating plant 3.4
    (iv)  Temporary erection such as wooden structures 33.4
    (v)  Roads other than Kutcha roads 3.02
    (vi)  Others 3.02
    (e)  Transformers, transformer (Kiosk) sub-station equipment & other fixed apparatus (including plant foundations)
     (i)  Transformers (including foundations) having a rating of 100 kilo volt amperes and over 7.81
    (ii)  Others 7.84
    (f)  Switchgear including cable connections 7.84
    (g)  Lightning arrestor :
     (i)  Station type 7.84
    (ii)  Pole type 12.77
    (iii)  Synchronous condenser 5.27
    (h)  Batteries 33.4
     (i)  Underground cable including joint boxes and disconnectioned boxes 5.27
    (ii)  Cable duct system 3.02
      (i)  Overhead lines including supports :
     (i)  Lines on fabricated steel operating at nominal voltages higher than 66 kilo volts 5.27
    (ii)  Lines on steel supports operating at nominal voltages higher than 13.2 kilo volts but not exceeding 66 kilo volts 7.84
    (iii)  Lines on steel or reinforced concrete supports 7.84
    (iv)  Lines on treated wood supports 7.84
    (j)  Meters 12.77
    (k)  Self-propelled vehicles 33.40
    (l)  Air-conditioning plants :
     (i)  Static 12.77
    (ii)  Portable 33.40
    (m)  (i) Office furniture and fittings 12.77
    (ii)  Office equipments 12.77
    (iii)  Internal wiring including fittings and apparatus 12.77
    (iv)  Street light fittings 12.77
    (n)  Apparatus let on hire
     (i)  Other than motors 33.4
    (ii)  Motors 12.77
    (o)  Communication equipment :
     (i)  Radio and high frequency carrier system 12.77
    (ii)  Telephone lines and telephones 12.77
    (p)  Any other assets not covered above 7.69

    (Article updated on 02.11.2014)


    83 Responses to “Rates of Depreciation as Per Income Tax Act,1961”

    1. vinod jain says:

      Req information for tax benefit on solar power project, i.e generation and street light system,

    2. audit says:

      whether air conditioners should be capitalised under office euipments or plant & machinery.

    3. varsha says:

      heyy

    4. Atul says:

      We are buying LED lights for our plant. What is the depreciation rate for LED?
      under which clause of Income tax?

    5. kavita meti says:

      Sir,
      please send me the depreciation rate as per income tax act and companies Act in excel format.

    6. ARPITHA says:

      will charge of 100% depreciation on wooden partition utilized in a clinic can be allowable state me with case study

    7. Sreehari KN says:

      Sir,

      Will fire and safety equipments come under general rate of depreciation , both under Income tax and Companies act…

      Please reply

    8. rahul says:

      what is the depreciation rate for CCTV Cameras as per IT act.?
      And in which block does it comes under..?

    9. chandrashekhar h mavintop says:

      I have purchased plant and machinery about two years ago. But the plant and machinery is only utilised for a period of 4 weeks less than 180 days. Please let me know whether any depreciation is eligible for the plant and machinery which is utilised for only 4 weeks and it is practically new,

    10. Rajesh Kumar says:

      Dear Sir,

      if we purchase computer on 21.03.2014 how much depreciation charge on it as per income tax act. because 60% depreciation charges if we used more than 180 days.

      thanks

    11. D.nagabhushan says:

      Sir,

      Please let me know whether sports items like bats and balls etc. can be classified under assets account and depreciation can be calculated.

    12. Suresh Dash says:

      Dear Sir,please tell me what is the rate of depreciation of hydraulic excavator crawler mounted engaged on hire basis.The excavator not required registration from RTO.THis is heavy earth moving equipment engaged in construction..

      With regards.

      Suresh Dash.
      Mobile No.+918584020999

    13. Saurabh Verma says:

      Is amortization of lease rights of leasehold land allowed in Income Tax Act(IT Act)?

      if yes, how will be show the difference in WDV as per ROC and as per IT Act in the computation of deferred tax asset / Liability. Because we cannot show the same in the Depreciation chart of IT Act as there is no specific rate given for the same and ITR-VI will not take this.

      please suggest me

      thanks & Regards,
      Saurabh Verma
      CA-Final Student

    14. CHHAVI RAI says:

      PLEAS SUGGEST THE RATE OF DEPRICIATION ON XEROX MACHINE USED FOROFFICIALPURPOSE.

      Thanks & Regards

    15. Sandeep Jha says:

      Sir,

      Kindly send me the date and notification no. for changed the rate of depreciation on Containers made of glass or plastic used as refills from 100% to 50%.

    16. MITHUN BEHERA says:

      Rate of Depreciation on Lab rotary equipment of a residential educational institution.

      Please sent me the answer of the above question quickly, because now I am going to finalize the accounts of a college.

      Thanks

    17. Pooja chakave says:

      what is depriciation rate of the CCTV camera ?

    18. MANAN says:

      rate of depreciation for mobile?

    19. sudhir kamble says:

      pls mail me the rate of dep. on xerox machine

    20. Deepak Bisht says:

      i purchase a car rs.15 lac…for year 2012-2013. so plse charge of Dep.?

    21. Amar says:

      I purchased solar system for electricity at my building so i want to know that what i charge depreciation on that equipment and what is the tax benifit on that.

    22. somu says:

      i have purchased car how to claim depreciation and how many percentage

    23. lalit modi says:

      HOW DECIDE THAT RATE OF DEPRICIATION ON
      X-RAY ROOM
      HOSPITAL
      MULTIPLEX CINEMA HALL
      SINGLE SCREEN CINEMA HALL

      WHAT WE INCLUDED ABOVE IN PLANT OR BUILDING?

    24. Jay Parikh says:

      Car purchased on 1st January . Cost is Rs. 421921/-. Pls inf amount of depreciation.

    25. Ranjit Patra says:

      I would like to know a company having plan for setting up a grid intractive (5MW) solar power project in FY 13-14, whether they will be elligible for accelerated depriciation if so what is the rate% and this is available under which act of Income Tax.

      I will be happy if any body can provide me any notification copy on the above.

    26. Preethi.V says:

      I had a Question for you. What is the rate of depreciation for a generator purchased before 30.09.2012 by a non-corporate assessee?

    27. Preethi.V says:

      I Had A question for You. What is the rate of depreciation for the generator purchased before 30/09/2012 by a Non-corporate assesee?

    28. Dhaval Nathwani says:

      Hello Sir,

      We have got the notification from Income Tax regarding Wind Mill Installation, Stating
      CBDT has amended the income tax rules to restrict the depreciation allowed on windmills installed after 1 April, 2012 to 15 %. This was 80% for the windmills installed on or before 31st March, 2012.

      My question is If you see the above statement it is contradictory in first statement they are saying wind mill Installed after 1 April, 2012 to 15 % and in next statement they are saying, This was 80% for the windmills installed on or before 31st March, 2012.

      So Sir for our accounting purpose should we take a deduction for Depreciation of 80% or 15%, as we have purchased wind mill on 31/03/2010 date please advise.

      Thanking you

      Regards,

    29. Rajesh Ranjan says:

      I would like to know the depreciation cost of the Laptop as on June 2012, which purchased in March 2011 at the coast of Rs. 70,000/-. Pls help

    30. chetan bhargav says:

      I am a senior citizen. I have purchased a new car for my personal use. I am not doing any business and am dependent on interst income. Am i entitled to claim depraction on the car under the income tax act. Please advice me as soon as possible.
      Thanking you,
      Ravi Bhargav

    31. alok jain says:

      Dear sir,

      plz send me depreciation rate in Excel format

      Thanks

      Alok jain

    32. Money jain says:

      what is the depreciation rate on fire fighting equipments?

    33. C. YARRAIAH - 0 99499 88998. 95055 08265 says:

      we have hospital building with lift, generators, escalators, transformer, air conditioners, electrical fittings, cctv, stp. can we show all these items under building or we need to show seperately?
      as per income tax act for the purpose of deprecaition.
      pl advise

    34. khushi says:

      I Want to required all details of those assets are applicable or not applicable for Depreciation(with Current Rate)?

    35. bhanu says:

      I Want to required all details of those assets are applicable or not applicable for Depreciation(with Current Rate)?

    36. Paresh says:

      need the depreciation rate according to income tax act and companies act in excel sheet on every assets and how to calculate .

    37. ANIL KUMAR.V.K says:

      I Want to required all details of those assets are applicable or not applicable for Depreciation(with Current Rate)?

    38. sc rawat says:

      w e are a partnership firm – natre of business training & development, since november 2011.   partners are A  and B, the business is being carried out from a (other wise vacant) residential house jointly owned by A & C (C is husband of A and is in govt service, the family lives in govt accomodation).   Half portion of the the house along with the furniture and fittings, is exclusively used for the business of the firm, remaining half is lying vacant. can the firm claim depreciation on 50 % of 50 %  on the value of the assets (50 % being share of  A and  50 % being the property in use by the firm .  please advise. the  house and the furniture etc were bought in the year  2002  rawat

    39. Abhay Yadav says:

      What would be the depreciation rate to be taken in the case of books owned by college.

    40. Anjali Devraj says:

      i need the depreciation rate according to income tax act and companies act in excel sheet on every assets and how to calculate to it…………

    41. b senapati says:

      Sir,
      My company purchased a car on 4/2/2005 which is being used by me for Rs 324431\- . What will be its depreciation value as per Income tax rules as on 04/02/2008?

      Can you send the reply?
      Thanks,

    42. SACHIN NALAWADE says:

      Respected Sir /Madam

      I Want to required all details of those assets are applicable or not applicable for Depreciation(with Current Rate)

    43. Preetam Singh says:

      hi Sir/Mem
      I Want To understand the depreciation So plz sir Some knowledge provide me.

    44. Arun says:

      Yes. It is allowed at 100% provided the cost of aquisition of the asset is not more the Rs.5,000/-

    45. Dipak Mehta says:

      Dear Sir, shall i kknow from which year the rate of depreciation changed from 33.33% to 25% on plant & machinary? please consider my request.Thank You.

    46. Dipak Mehta says:

      shall i know from which year the rate of depreciation changed from 33.33% to 25% on plant and machinery? please consider my request.

    47. shree says:

      how to calculate the actual amount of fixed assets, actual balance sheet amount is 1,50,000/- i don’t know 10 % how it calculate i want actual 10 % depreciation amount please suggest me sir

    48. Md Mobarak Hussain says:

      Dear sir ,

      pls explain me how to calculate the depreciation ….

      and pls explain what is the difference between IT Depreciation & Company Act Depreciation and which is better..

      pls reply soon

    49. kumar says:

      Refer,
      Your state Biomass tariff schedule given by the concerned Renewable Dept.There you will get the details of Accelerated Depreciation information.

    50. Purnachandra Prasad says:

      Can we claim depreciation for a lease hold land ?
      Please reply

      Thanks
      Prasad

    51. NEERAJ UPPAL says:

      Please send me rates of depreciation for the Financila Year 2010-11 & All rates of VAT & VAT 24 Form

      Thanking You

      NEERAJ UPPAL
      GURDASPUR

    52. mansi says:

      if i am a sports professional:

      a. Which return would i use – ITR 4?
      b. my sports equipments would be classified as assets
      c. what rate of depreciation would apply on same

    53. ajay rai says:

      sir,

      plz send vat form 24 and vat charge on tractors.

    54. ajay rai says:

      tractors/spares ka vat percentage kya hai.

    55. dinesh says:

      depreciation rate as per income tax law on fire fighting equipments

    56. Vivek Sharma says:

      If library is being used for business and profession, then 60% depreciation can be claimed . In case of periodicals 100 depreciation can be used.

    57. Vivek Sharma says:

      Highest rate of depreciation is 100% for temporary wooden structure

    58. Vivek Sharma says:

      The depreciation on computers as per Income Tax Act, 1961 is 60% under WDV method

    59. Abhijit roy says:

      Please tell me the rate of depreciation of computer , as we know the depreciation rate is 33.33%.

    60. srinivasa reddy says:

      ur question not clear!, what star one hair?

    61. vilas gondal says:

      What is the highest rate of Depreciation under Income Tax and for what items?
      please give chart

    62. pavithra says:

      Please replay me the rare of depreciation on star one hair in yellow board

    63. k nand kishore says:

      I learnt some where in books relating to Taxation in India that in case the value of depreciable asset is Rs. 5000 or less depreciation can be claimed @ 100 % regardless of the category of the depreciable asset. Can any one give a detailed clarification on this particular aspect of depreciation ?

    64. Shraddha says:

      Please confirm the rate of depreciation for Plant & Machinery used in manufacture of Solar Panel. Is it 80%

    65. Sudarshan Kale says:

      please send depriciation excel format sir (A Y 2011-12)

    66. k kalirajan says:

      I’m K.Kalirajan from Trichirapalli, Tamil nadu . Interested to instaingl Solar Air conditioner for my home. When I refer internet, benefit of income tax thro 100% depreciation is shown by some companies.. Is it for individual also?
      Kindly clarify, if i install solar A/c for my home, am I eligible to claim this benefit?

    67. Chandan Chaudhary says:

      please send the formula of calculate interest of RD Monthly Deposit

    68. vipin says:

      in case of schools what will be the depreciation rate for sports items and books and periodicals for the A.Y. 2010-11

    69. rama says:

      what is the benefit of accelerated dep for a new biomass power company.
      what is its effect on tariff if any.

    70. Purvi says:

      Dear Sir,

      At the time of Sell of any Fixed Asset we have to take depriciated value as pe Co’s act or as per Imcome tax act?

      Is there any accounting practice that we have to maintain depriciation as per co’s act as well as as per income tax.

      Kindly suggest.

      Thanks & Regards.

    71. malathesh says:

      Dear Sir,
      Please reply me about the rate of depreciation on new factory building & plant & machinery under partnership act, extensionof unit,
      thanking you,
      with regards
      n.k.malathesh

    72. MANISH says:

      wht rate of depriciation be charged on library books in case of college or trust?

    73. Rohit Kumar says:

      Pls send me format in excel sheet for depreciation calculation and how to calculate

    74. rahul says:

      please send me all fixassets depriciation rate for assessment year 2010-2011

    75. vinod says:

      please send depriciation excel format sir

    76. bhawna says:

      can you tell me celing fans will come under furnitures or in office equipments.tell the rates of dep plz.

    77. PANKAJ KR NIMESH says:

      HOW DECIDE THAT RATE OF DEPRICIATION (COMPUTER DEP. 60%)

    78. Amit Sharma says:

      Dear Sir

      Please send me p.f calculation sheet in excel format.

      Thans

    79. Amit Sharma says:

      Dear sir

      Pls send me format in excel sheet for depreciation calculation and how to calculate

      Thanks

    80. Amit Sharma says:

      Sir

      I have a passenger cng auto i want to know that how is depriciation rate on it.

      Thans

    81. Shraddha Rao says:

      Please inform me the tax suitabilities for the manufacturer of LED products where by the buyer is able to save power by more than 60%.
      reply ASAP.

    82. Uttam says:

      Pls send me format in excel sheet for depreciation calculation and how to calculate

    83. KN.MUTHIAH says:

      Windmills are eligible for Accelerated depreciation at 80%.Presently if you want to get generation based incentive you are not eligible to claim accelerated depreciation.
      In this situation what is the normal rate of depreciation allowable for WINDMILLS.

      Kindly give your advice and I will be thankful.

    Leave a Reply

    GET FREE EMAIL UPDATES