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Depreciation rates678084While computing profits and gains from business or profession, a taxpayer can claim depreciation on all those assets which he has acquired and used for the purpose of his business or profession. Different depreciation rates are prescribed for different nature of assets. This write up lists down all such depreciation rates.3/25/2019 5:17:12 AMRates of depreciation AS APPLICABLE FROM THE ASSESSMENT YEAR 2003-04 ONWARDS Depreciation allowance as percentage of written down value I. BUILDING [See Notes 1 to 4 below the Table 568046https://www.incometaxindia.gov.in/Charts Tables/Forms/AllItems.aspxhtmlFalsehtmCharts ＆ Tables{26b89a4f-398f-430e-bccf-2f9843f0620c}401d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
RATES OF DEPRECIATION8504296/25/2018 11:13:54 AMNature of assets   Single Shift Double Shift Triple Shift WDV SLM WDV SLM WDV SLM (c) PURELY TEMPORARY ERECTIONS such as wooden structures   100% 100 1398https://www.incometaxindia.gov.in/Acts/Companies Act, 1956htmlFalsehtmActCompanies Act, 1956SCH XIVSCHEDULESSCHEDULES{13896cd1-2b32-4ec2-8593-d8603ef8120d}458191d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
USEFUL LIVES TO COMPUTE DEPRECIATION8491056/28/2018 11:51:21 AM1. Depreciation is the systematic allocation of the depreciable amount of an asset over Government shall be applied in calculating the depreciation to be provided for such asset 391https://www.incometaxindia.gov.in/Acts/Companies Act, 2013htmlFalsehtmActCompanies Act, 2013Schedule IISCHEDULESSCHEDULES{13896cd1-2b32-4ec2-8593-d8603ef8120d}390981d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Depreciation on plant and machinery7556544/15/2019 11:37:03 AMDepreciation at full rate, Depreciation at half rate Additional Depreciation at 45699https://www.incometaxindia.gov.in/Pages/toolshtmlFalseaspx{5d5a1cf6-fa5e-49b7-aa9b-bf6d76dfeca1}7261d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Circulars & Notifications issued under the Companies Act, 20138491136/28/2018 11:51:24 AMSection 1 of the Companies Act, 2013 - Short title, extent and commencement - Enforcement of certain provisions of Companies Act, 2013 In exercise of the powers conferred by 1998https://www.incometaxindia.gov.in/Acts/Companies Act, 2013htmlFalsehtmActCompanies Act, 2013Appendix IIIAPPENDIXAPPENDIX{13896cd1-2b32-4ec2-8593-d8603ef8120d}559351d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Depreciation7545797/5/2018 5:26:17 AM32 of the Act may, instead of the depreciation specified in Appendix IA, at its option, be allowed depreciation under sub-rule (1) read with Appendix I, if 11324https://www.incometaxindia.gov.in/Rules/Income-Tax RuleshtmlFalsehtmRuleIncome-tax Rules{f5d01c93-5528-4be1-b341-5dc3e9647425}9711d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in5
Tax Charts & Tables6761119/12/2014 1:10:55 PMbusiness or profession, a taxpayer can claim depreciation on all those assets which he has Different depreciation rates are prescribed for different nature of assets 266216https://www.incometaxindia.gov.in/Pages/Forms/AllItems.aspxhtmlFalseaspx{5d5a1cf6-fa5e-49b7-aa9b-bf6d76dfeca1}4351d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Deductions allowable to tax payer678083​Income-tax Act provides certain deductions to compute the actual taxable income. The nature of deductions from total income is different for each category of income. The document will provide a list of all deductions available to different categories of taxpayers for different categories of incomes and the conditions thereof.3/25/2019 5:17:12 AMof power have the option to claim depreciation on written down value basis also Additional depreciation shall be allowed at 35% of actual cost of new plant and machinery 198404https://www.incometaxindia.gov.in/Charts Tables/Forms/AllItems.aspxhtmlFalsehtmCharts ＆ Tables{26b89a4f-398f-430e-bccf-2f9843f0620c}331d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Allowances allowable to tax payer678078Income-tax Act contains provisions for taxability of various allowances received by a taxpayer. These allowances are either in the nature of income which is exempt from tax or is an expenditure which provides weighted deductions to the taxpayer. This list gives a glimpse of tax treatment of various allowances available to a taxpayer.3/25/2019 5:17:11 AMAny allowance or perquisite paid or allowed by Government to its employees posted outside India Individual- Salaried Employee (being a citizen of India Allowances paid by the UNO to 249973https://www.incometaxindia.gov.in/Charts Tables/Forms/AllItems.aspxhtmlFalsehtmCharts ＆ Tables{26b89a4f-398f-430e-bccf-2f9843f0620c}521d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Depreciation11898626/6/2015 10:18:44 AM(i)  buildings, machinery, plant or furniture, being tangible assets that the aggregate deduction, in respect of depreciation of buildings, machinery, plant or 2805https://www.incometaxindia.gov.in/Acts/Income-tax Act, 1961/2015htmlFalsehtmActIncome-tax Act, 196132CHAPTER IVComputation of total income2015{13896cd1-2b32-4ec2-8593-d8603ef8120d}550031d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in