what are the current depn rates of the following:
* temporary erections
*books( other than those annual publications.)
* books being annual publications.
* books owned
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depreciation rates
Replies (3)
1.15%
2. 60%
3. 100%
4. 0
2. 60%
3. 100%
4. 0
Dear Amrit,
From FY 2017-18, all will be charged a depreciation rate of 40% ( i assume the books owned by the assessee are for carrying on business in running lending libraries).
This is so because, the highest rate of depreciation ahs been now restricted to 40%.
But P&M is chargeable @ 15%
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