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Depreciation

Dheeraj Sharma (11 Points)

24 October 2019

what is the depreciation rate for a.y. 2017.18 on land and building?

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Bharat Bohra (306 Points)
Replied 24 October 2019

For Land there is no depreciation
and for building it's 10%

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Kapadia Pravin (17259 Points)
Replied 24 October 2019

Residential Premises – 5% Depreciation Rate

Building which are mainly used for residential purposes except hotels and boarding houses can be charged a 5% depreciation rate under the Income Tax Act.

Buildings – 10% Depreciation Rate

All types of buildings which are not used for residential purposes can be charged with a 10% depreciation rate. A building would be deemed to be a building used mainly for residential purposes, if the built-up floor area used for residential purposes is not less than 66.66%.

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