Income-tax Act, 1961
Section - 32 - Depreciation
Depreciation.32. (1) In respect of depreciation of-
owned, wholly or partly, by the assessee and used for the purposes of the business or profession, the following deductions shall be allowed-
| (i) | - | buildings, machinery, plant or furniture, being tangible assets; |
| (ii) | - | know-how, patents, copyrights, trade marks, licences, franchises or any other business or commercial rights of similar nature, being intangible assets acquired on or after the 1st day of April, 1998, not being goodwill of a business or profession, |
| (i) | - | in the case of assets of an undertaking engaged in generation or generation and distribution of power, such percentage on the actual cost thereof to the assessee as may be prescribed; |
| (ii) | - | Google Play store
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