Depreciation rates- Tank pump

This discussion clarifies the depreciation rates for tanks and pumps according to the Income Tax Act. It confirms that pumps typically have a depreciation rate of 15%. For storage tanks, the rate is debated between 10% or 15%, with the consensus leaning towards them being classified as 'plant' if used in the business of hiring for petroleum product storage. The query also extends to the depreciation rate for LPG dispensers used in autogas stations.