Depreciation of Solar power

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This discussion clarifies the depreciation rate and useful life for solar panels according to the Companies Act. The recommended rate is 6.33% using the straight-line method over 15 years. It also touches upon the correct classification for these assets under 'Plant and Machinery'.

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(Querist)
18 June 2020 Hello,

Please guide me what will be depreciation rate for Solar panel as per companies Act. What useful life will be considered?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
18 June 2020 6.33% straight line rate. 15 years life.
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Angel

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Angel (Querist)
26 June 2020 Sir ..do you mean in this category-" Plant and Machinery other than continuous process plant not

covered under specific industries "
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