Depreciation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 May 2012 I just want to know new Depreciation rate applicable for Income Tax Return 31 March,2012 Charged on Mobile Phone,Furniture & Fittings and others Fixed Assets

CA. Dashrath Maheshwari

CA. Dashrath Maheshwari (Expert)
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11 May 2012
Block of Assets

Rate in %

A. TANGIBLE ASSETS

1. BUILDING (Depreciation Rates as per Income Tax Act)

(i) Residential Buildings (Except Hotel & Boarding Houses)

5

(ii) Buildings other than Residential building

10

(iii) Purely temporary erections such as wooden structure

100

2. FURNITURE AND FITTING

Furniture and fittings including electric fittings

15

3. PLANT & MACHINERY (Depreciation Rates as per Income Tax Act)

(1) Machinery and plant other than those covered below

25

(2) (i) Motor cars (Except those used in a business of running them on hire)

20

(ii) Motor cars, buses, lorries and taxis used in a business of running them on hire

40

(3) Moulds used in rubber and plastic goods factories

40

(4) Air pollution control equipments, being

80

For more detail, please check www.incometaxindia.gov.in

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