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SDR ASSOCIATES   20 August 2020

Depreciation rate?

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

 3 Replies

Deepak Gupta

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

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

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%

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