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Depreciation on solar plant
what is the rate of depreciation on solar power plant as per companies act and as per income tax act?
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Quick Summary
Is it solar plant or solar panel? and whether it is being used for business purpose or residential purpose?
Under Income Tax Act, Depreciation on Solar Power Plant is 40%. If purchased after September then depreciation is to be charged for half year. 20% additional depreciation can be allowed in the 1st year of Solar Power Plant
Further, under the Companies Act, 2013 rate of depreciation - 18.10%
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