Depreciation rate as IT act

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193 Points Posted on 10 March 2023
pls tell me the depreciation rate for Tyre Changer machine and Air compressor.
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On 10 March 2023 at 22:17 Report
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Quick Summary
This discussion clarifies the depreciation rate applicable to tyre changer machines and air compressors under the IT Act. While one suggestion points to a 15% rate found in Income Tax rules, another expert indicates that as per the Income Tax Act, such machinery falls under 'plant and machinery' eligible for a 40% depreciation rate.

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CFO- at NHTF
58280 Points Posted on 11 March 2023
You may use 15%
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On 11 March 2023 at 08:47
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GST Practitioner & Accounts
15140 Points Posted on 11 March 2023
You will get all depreciation rates , in Income Tax rules 1962 ( in Forms section ) . refer rule book amended till date.
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On 11 March 2023 at 08:52
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SEO Sai Gr. Hosp.
212447 Points Posted on 11 March 2023

As per income tax act it will fall under plant and machinery having depreciation rate of 40%.

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On 11 March 2023 at 08:55
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Profession Business
28246 Points Posted on 14 March 2023
Why do you want depreciation rate differentials?
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On 14 March 2023 at 10:03

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