Depreciation Rate

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128 Points Posted on 09 January 2021
what is the rate of depreciation on JCB ? Please help
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On 09 January 2021 at 14:45 Report
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This discussion clarifies the depreciation rate applicable to JCBs. While the general rate is often 15%, a specific rate of 30% applies if the JCB was purchased between 23rd August 2019 and 31st March 2020, as per Income Tax notification. This higher rate aligns with that for motor buses and lorries used for hire.

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Chartered Accountant
24588 Points Posted on 09 January 2021
30% depreciation
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On 09 January 2021 at 17:44
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Accountant
4533 Points Posted on 09 January 2021
The rate adopted by the assessee for claiming depreciation on JCB is 30%. The Act prescribes 30% depreciation for motor buses, motor lorries and motor taxies used in a business of running them on hire as provided in (rule 5) - New Appendix-I (effective from A.Y. 2006-07 onwards).
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On 09 January 2021 at 22:06
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Chartered Accountant
86505 Points Posted on 30 January 2021

https://www.incometaxindia.gov.in/Charts%20%20Tables/Depreciation%20rates.htm

Complete List is given above.

Generally rate is 15% However if JCB is purchased dueing 23.08.2019 to 31.03.2020 then rate will be 30% as per Notification No. 69/2019-Income Tax

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On 30 January 2021 at 21:13

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