Amendment Depreciation

IT Notification 103/2016 dt. 7 Nov. 2016 :

CBDT amended Income Tax Rules relating to depreciation rates as per Income Tax. New proviso to Rule 5(1) restricts depreciation claim at 40% for Newly set-up domestic manufacturing companies opting corporate tax rate @ 25% u/s 115BA(4), w.e.f. 1 Apr. 2016. However, depreciation rate under Income Tax for other companies has been capped at 40% w.e.f. 1 Apr. 2017.

Originally posted by : Maitree
	IT Notification 103/2016 dt. 7 Nov. 2016 : CBDT amended Income Tax Rules relating to depreciation rates as per Income Tax. New proviso to Rule 5(1) restricts depreciation claim at 40% for Newly set-up domestic manufacturing companies opting corporate tax rate @ 25% u/s 115BA(4), w.e.f. 1 Apr. 2016. However, depreciation rate under Income Tax for other companies has been capped at 40% w.e.f. 1 Apr. 2017.

Yes... I agreed the above said reply...