Depreciation Rate as per Income Tax Act
This query is : Resolved
Quick Summary
20 December 2020
I am running a Petrol Pump Business. I purchased one tanker for bringing Petrol/Diesel from depot to my business place and also purchases Solar System
What is the Depreciation Rate on-
1. Tanker
2. Solar System
What is the Depreciation Rate on-
1. Tanker
2. Solar System
05 January 2021
please provide solution of above query .
and what is the depreciation rate on commercial vehicle purchased during fy 2018-19
and what is the depreciation rate on commercial vehicle purchased during fy 2018-19
05 January 2021
You can refer to the below link for latest depreciation rates applicable under Income Tax act
https://www.incometaxindia.gov.in/Pages/charts-and-tables.aspx
Go to depreciation rates chart
https://www.incometaxindia.gov.in/Pages/charts-and-tables.aspx
Go to depreciation rates chart
28 October 2021
1. 30%
2. 40% as per IT act ..
2. 40% as per IT act ..
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