07 September 2012
i want to know whether the rate of depreciation on general plant & machinery has been enhanced to 25% from 15% for ay 12-13 as per income tax act. when i saw in www.justetax.com/453/income-tax.../depreciation-rates-fy-2011-12/ this link i got the rate enhanced to 25% however as per taxmann laws i got the rate as 15% i.e. same as ay 11-12. i want to confirm what is the actual rate of dep on plant and machinery for ay 12-13 as per Income Tax Act. Plz guide.
07 September 2012
There is no change in rate of depreciation. It is 15% only. And I suggest you not to refer any untrusted sources that too in a subject like income tax.
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