Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

Solar roof top depreciation

RAVINDRA JOSHI (9 Points)

31 October 2019

is accelerated depreciation allowed for solar rooftop panels

Reply
Follow
Share

3 Replies

Kapadia Pravin (17254 Points)
Replied 02 November 2019

In order to promote the use of solar power in commercial and industrial segments, the Govt. of India offers accelerated depreciation of fixed assets associated with a solar power plant.

The current rate of acceleration which can be claimed in a year is 40%.

Upgrade to CAclubindia Pro. Subscribe Now!

subhagan sreerangam (7040 Points)
Replied 02 November 2019

The current rate of acceleration which can be claimed in a yaer is @ 40%>

Amit Bajpayee (18 Points)
Replied 03 May 2024

Hey, yes in many places, including the United States, accelerated depreciation is indeed allowed for solar rooftop panels. This means businesses and individuals can recover the cost of their solar investments faster through tax deductions. It's like getting a financial boost upfront, making solar energy more financially appealing.

However, the specifics can vary by location and tax laws, so consulting with a tax professional is key to understanding the benefits available in your area.