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Depreciation rate?


SDR ASSOCIATES   20 August 2020

SDR ASSOCIATES

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what is the depreciation rate for factory building for the fin year 2019-20
Deepak Gupta

Deepak Gupta (CA Student)     20 August 2020

Deepak Gupta
CA Student 
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Originally posted by : SDR ASSOCIATES
what is the depreciation rate for factory building for the fin year 2019-20

10%

Himanshu

Himanshu (Student CA Final )     21 August 2020

Himanshu
Student CA Final  
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Rate as per Income Tax Act is 10%, for Companies Act rate is based on useful life , refer schedule II of companies act for the same.
GNYANA UPANISHAD

GNYANA UPANISHAD   22 August 2020

GNYANA UPANISHAD

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For buildings which are not mainly used for residential purposes and at the same time not a temporary erection, not a building used for providing water supply or water treatment systems, we need to depreciate @ 10%

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