Income tax depreciation rates

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Sameer Sunil Sawant (Querist)
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07 September 2012 i want to know whether the rate of depreciation on general plant & machinery has been enhanced to 25% from 15% for ay 12-13 as per income tax act. when i saw in www.justetax.com/453/income-tax.../depreciation-rates-fy-2011-12/ this link i got the rate enhanced to 25% however as per taxmann laws i got the rate as 15% i.e. same as ay 11-12. i want to confirm what is the actual rate of dep on plant and machinery for ay 12-13 as per Income Tax Act. Plz guide.

CA Mehta Ankur N.

CA Mehta Ankur N. (Expert)
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07 September 2012 Its 15% only... Read Act & dont depend on reference books...

Pankaj Gupta

Pankaj Gupta (Expert)
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07 September 2012 There is no change in rate of depreciation. It is 15% only. And I suggest you not to refer any untrusted sources that too in a subject like income tax.

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Sameer Sunil Sawant

Sameer Sunil Sawant (Querist)
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08 September 2012 Thank You sir for your guidence.