Depreciation on solar plant
Krishna (Employee) (59 Points)
15 March 2022
what is the rate of depreciation on solar power plant as per companies act and as per income tax act?
2 Replies
Ankita garg
(Student CA Final )
(47 Points)
Replied 15 March 2022
Is it solar plant or solar panel? and whether it is being used for business purpose or residential purpose?
CA Puja Sharma
(Chartered Accountant)
(5010 Points)
Replied 15 March 2022
Under Income Tax Act, Depreciation on Solar Power Plant is 40%. If purchased after September then depreciation is to be charged for half year. 20% additional depreciation can be allowed in the 1st year of Solar Power Plant
Further, under the Companies Act, 2013 rate of depreciation - 18.10%
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