Depreciation rate?

Deepak Gupta (CA Student)     20 August 2020

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

10%

Himanshu (Student CA Final )     21 August 2020

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   22 August 2020

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%