Deprecation rate for solar power plant
This query is : Resolved
11 May 2023
Dear Experts,
What will be the Deprecation rate for solar power plant as per
Income Tax Act,1961.
Companies Act,2013.
Also whether the company claim the additional depreciation of 20% as per Section 32(1)(iia) of Income Tax Act,1961.
Pl clarify
What will be the Deprecation rate for solar power plant as per
Income Tax Act,1961.
Companies Act,2013.
Also whether the company claim the additional depreciation of 20% as per Section 32(1)(iia) of Income Tax Act,1961.
Pl clarify
11 May 2023
As per section 32 of income tax act 1961, Solar plant is eligible to avail 40% of depreciation. Extra depreciation of 25% on capital expenditure of Solar plant is a huge tax savings.
Under companies Act 15 years life is considered for depreciation
Under companies Act 15 years life is considered for depreciation
11 May 2023
Dear Sir,
Thank you for your response.
I would like to confirm that the additional depreciation is either 20% or 25%
Thank you for your response.
I would like to confirm that the additional depreciation is either 20% or 25%
11 May 2023
It's 20% only.
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