Depreciation chart as per Income Tax Act for FY 2012-13
Depreciation chart as per Income Tax Act for FY 2012-13 and AY 2013-14
Assets are bifurcated in five classes as under for the purpose of Depreciation as per Income Act .
- Building
- Furniture
- Plant and Machinery (P&M)
- Ships
- Intangible assets
There is a concept of block of assets. Blocks of assets are defined based on rates of depreciation of respective block. There are total 13 different rates of depreciation hence there are total 13 Blocks of assets.
Depreciation chart as per Income Tax Act for FY 2012-13 and AY 2013-14 is as under:
| ASSET CLASS | BLOCK NUMBER | SUB ITEM NUMBER | ASSET TYPE | RATE OF DEPRECIATION |
|---|---|---|---|---|
| Building | Block-01 | i. | Residential buildings except hotels and boarding houses | 005% |
| Building | Block-02 | ii. | Other than Residential buildings (not covered in Block No.1 &3) | 010% |
| Building | Block-03 | i. | Buiding acquired on or after 01st Sep,2002 for installing P&M forming part of water supply project or water treatment systmen and which is put to use for the prupose of business of providing infrasturcture facilities u/s 80-IA(4)(i) | 100% |
| Building | Block-03 | ii. | Purely temporary erections such as wooden structures | 100% |
| Furniture | Block-04 | i. | Furniture - Any furniture / fittings including electricals fittings | 010% |
| Plant & Machinery | Block-05 | i. | Motor cars other than thouse used in a business of running them on hire | 015% |
| Plant & Machinery | Block-05 | ii. | P&M other those covered in block no. 6 to 11 below. | 015% |
| Plant & Machinery | Block-06 | i. | Motor buses/taxies/lorries used in a business of running them on hire | 030% |
| Plant & Machinery | Block-06 | ii. | Moulds used in plastic and rubber factories | 030% |
| Plant & Machinery | Block-06 | iii. | P&M used in semi conductor industry other than those covered in Block no. 11 below | 030% |
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