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Depreciation rate as IT act
pls tell me the depreciation rate for Tyre Changer machine and Air compressor.
Replies (4)
Quick Summary
You may use 15%
You will get all depreciation rates , in Income Tax rules 1962 ( in Forms section ) . refer rule book amended till date.
As per income tax act it will fall under plant and machinery having depreciation rate of 40%.
Why do you want depreciation rate differentials?
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