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Depreciation rates

Depreciation rates4266 While 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.6/15/2020 12:01:47 PMRates 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 631864https://www.incometaxindia.gov.in/Charts Tables/Forms/AllItems.aspxhtmlFalsehtmCharts & Tables{26b89a4f-398f-430e-bccf-2f9843f0620c}401d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Tax Charts & Tables363610/15/2020 11:46:13 AMbusiness or profession, a taxpayer can claim depreciation on all those assets which he has Different depreciation rates are prescribed for different nature of assets 516453https://www.incometaxindia.gov.in/Pages/Forms/AllItems.aspxhtmlFalseaspx{5d5a1cf6-fa5e-49b7-aa9b-bf6d76dfeca1}4351d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Notification No. 31/2020 [F. No. 370142/32/2019-TPL] / GSR 338(E)2117095/31/2020 9:31:42 AM(b) in Appendix II, for Form ―Sahaj (ITR-1), Form ITR-2, Form ITR-3, Form Sugam (ITR-4), Form ITR-5, Form ITR-6, Form ITR-7 and Form ITR-V‖, the following Forms shall, respectively 42707https://www.incometaxindia.gov.in/Communications/NotificationpdfFalsepdfNotification1392020-05-28T18:30:00.0000000Z2020Notification No. 31/2020 [F. No. 370142/32/2019-TPL] / GSR 338(E){8f5119bc-7835-4673-bf0f-3474ae9bd9c6}122861d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Ascertainment of depreciation970776/25/2018 11:11:11 AM4) of shall be the [amount of depreciation on assets] as shown by the books of the or destroyed for any reason before depreciation of such asset has been provided for in 3https://www.incometaxindia.gov.in/Acts/Companies Act, 1956htmlFalsehtmActCompanies Act, 1956350VIMANAGEMENT AND ADMINISTRATION{13896cd1-2b32-4ec2-8593-d8603ef8120d}388711d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Depreciation2721910/13/2020 9:08:22 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 13754https://www.incometaxindia.gov.in/Rules/Income-Tax RuleshtmlFalsehtmRuleIncome-tax Rules{f5d01c93-5528-4be1-b341-5dc3e9647425}9711d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in5
Notification No. 82/2020 [F. No. 370142/30/2020-TPL] / GSR 610(E)84297110/2/2020 5:02:40 PM2019 shall be increased by such depreciation or allowance for unabsorbed depreciation not allowed to be set off 10329https://www.incometaxindia.gov.in/Communications/NotificationpdfFalsepdfNotification44AB2020-09-30T20:30:00.0000000Z2020Notification No. 82/2020 [F. No. 370142/30/2020-TPL] / GSR 610(E){8f5119bc-7835-4673-bf0f-3474ae9bd9c6}123431d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Depreciation3662248/27/2014 2:50:38 PM623https://www.incometaxindia.gov.in/Acts/Income-tax Act, 1961/2014unknownFalsehtmActIncome-tax Act, 196132CHAPTER IVComputation of total income2014{13896cd1-2b32-4ec2-8593-d8603ef8120d}505141d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Depreciation3711382/27/2019 9:14:31 AM(i) buildings, machinery, plant or furniture, being tangible assets (ii) in the case of any that the aggregate deduction, in respect of depreciation of buildings, machinery, plant or 10https://www.incometaxindia.gov.in/Acts/Income-tax Act, 1961/2018htmlFalsehtmActIncome-tax Act, 196132CHAPTER IVComputation of total income2018{13896cd1-2b32-4ec2-8593-d8603ef8120d}584391d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Depreciation on plant and machinery93854/15/2019 11:37:03 AMDepreciation at full rate, Depreciation at half rate Additional Depreciation at 94816https://www.incometaxindia.gov.in/Pages/toolshtmlFalseaspx{5d5a1cf6-fa5e-49b7-aa9b-bf6d76dfeca1}7261d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
RATES OF DEPRECIATION966106/25/2018 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 3410https://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