Depreciation rate as per co act and IT

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Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2011 Please let me know the depreciation rate to be applicable in case of GPS devices.

CS Bijoy

CS Bijoy (Expert)
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09 July 2011 Under Income Tax Act
Building: 05%
Residential 10%
Factory
General Plant & Machinery 15%
Motor Car 15%
Motor Buses/Lorries Used in Hire 30%
Computer including Software 60%
Furniture 10%
Patents, Know-How, Copyrights, Licenses etc. 25%

Querist : Anonymous

Querist : Anonymous (Querist)

09 July 2011 No help from your reply. I need rate to be applied for GPS devices which are used in Buses for tracking purpose.

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Asha Kanta Sharma

Asha Kanta Sharma

(Expert)
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21 July 2024 For GPS devices used in buses for tracking purposes, the applicable depreciation rate under the Income Tax Act in India is as follows:

- **Electrical equipment including GPS devices**: Depreciation is allowable at the rate of 60% per annum on the written down value (WDV) basis. This rate applies to electrical equipment including GPS devices used in businesses, including those used in buses for tracking purposes.

Therefore, your client can claim depreciation at the rate of 60% per annum on the cost of GPS devices used in buses for tracking. This depreciation is calculated on the WDV basis, which means it is applied to the cost of the device reduced by any depreciation already claimed in previous years.