Depreciation

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1 Points Posted on 26 March 2020
Plant and Machinery Dep. rate.
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On 26 March 2020 at 17:35 Report
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This discussion clarifies the depreciation rates for plant and machinery as per the Income Tax Act, 1961. The general rate for plant and machinery is 15%. Specific rates apply to assets like vehicles (15% or 30% for hiring), computers and pollution-controlled equipment (40%), ships (20%), and windmills installed after April 1, 2014 (40%).

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Dep rate : 15%
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On 26 March 2020 at 18:03
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"Do the Right Thing...!!!"
128157 Points Posted on 26 March 2020
Depreciation rate @ 15% As per Income tax act
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On 26 March 2020 at 19:16
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Chartered Accountant
12739 Points Posted on 30 March 2020

Rate for the P&M 

Generally : Vehicles / Oil Wells : @ 15% 

Computers / Books / Pollution Controlled Equipment / Airplane / Windmills installed on or after 1-4-2014 : @ 40%

Ships / Vessels : @ 20% 

Vehicle used for hiring business : @ 30% 

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On 30 March 2020 at 07:07
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Consultant
1891 Points Posted on 30 March 2020

Under the Income Tax Act, 1961, rate of depreciation on Plant & Machinery is 15%. 

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On 30 March 2020 at 13:46

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