Depreciation rate as per co act and IT
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 July 2011
Please let me know the depreciation rate to be applicable in case of GPS devices.
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%
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.
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.
- **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.
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