Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 May 2012
I just want to know new Depreciation rate applicable for Income Tax Return 31 March,2012 Charged on Mobile Phone,Furniture & Fittings and others Fixed Assets
11 May 2012
Block of Assets
Rate in %
A. TANGIBLE ASSETS
1. BUILDING (Depreciation Rates as per Income Tax Act)
(i) Residential Buildings (Except Hotel & Boarding Houses)
5
(ii) Buildings other than Residential building
10
(iii) Purely temporary erections such as wooden structure
100
2. FURNITURE AND FITTING
Furniture and fittings including electric fittings
15
3. PLANT & MACHINERY (Depreciation Rates as per Income Tax Act)
(1) Machinery and plant other than those covered below
25
(2) (i) Motor cars (Except those used in a business of running them on hire)
20
(ii) Motor cars, buses, lorries and taxis used in a business of running them on hire
40
(3) Moulds used in rubber and plastic goods factories
40
(4) Air pollution control equipments, being
80
For more detail, please check www.incometaxindia.gov.in
Block of Assets
Rate in %
A. TANGIBLE ASSETS
1. BUILDING (Depreciation Rates as per Income Tax Act)
(i) Residential Buildings (Except Hotel & Boarding Houses)
5
(ii) Buildings other than Residential building
10
(iii) Purely temporary erections such as wooden structure
100
2. FURNITURE AND FITTING
Furniture and fittings including electric fittings
15
3. PLANT & MACHINERY (Depreciation Rates as per Income Tax Act)
(1) Machinery and plant other than those covered below
25
(2) (i) Motor cars (Except those used in a business of running them on hire)
20
(ii) Motor cars, buses, lorries and taxis used in a business of running them on hire
40
(3) Moulds used in rubber and plastic goods factories
40
(4) Air pollution control equipments, being
80
For more detail, please check www.incometaxindia.gov.in
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