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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.9/3/2019 10:22:21 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 573850https://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 2006https://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
Depreciation on plant and machinery7556544/15/2019 11:37:03 AMDepreciation at full rate, Depreciation at half rate Additional Depreciation at 60010https://www.incometaxindia.gov.in/Pages/toolshtmlFalseaspx{5d5a1cf6-fa5e-49b7-aa9b-bf6d76dfeca1}7261d5e35f4-95b1-4705-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 4967https://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
Property, Plant and Equipment8724006/25/2018 11:39:49 AMof their carrying amounts and the depreciation charges and impairment losses to be Depreciation is the systematic allocation of the depreciable amount of an asset over 50https://www.incometaxindia.gov.in/Rules/Companies (Accounting Standards) Rules, 2006/2009htmlFalsehtmRuleCompanies (Accounting Standards) Rules, 2006{f5d01c93-5528-4be1-b341-5dc3e9647425}3571d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.inIND AS 16
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 12371https://www.incometaxindia.gov.in/Rules/Income-Tax RuleshtmlFalsehtmRuleIncome-tax Rules{f5d01c93-5528-4be1-b341-5dc3e9647425}9711d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in5
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.9/2/2019 11:10:39 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 255726https://www.incometaxindia.gov.in/Charts Tables/Forms/AllItems.aspxhtmlFalsehtmCharts ＆ Tables{26b89a4f-398f-430e-bccf-2f9843f0620c}521d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
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 307243https://www.incometaxindia.gov.in/Pages/Forms/AllItems.aspxhtmlFalseaspx{5d5a1cf6-fa5e-49b7-aa9b-bf6d76dfeca1}4351d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
For individuals and HUFs having income from profits and gains of business or profession981964/5/2019 11:19:24 AMDate of Birth/Formation (DD/MM/YYYY Aadhaar Number (12 digit)/ Aadhaar Enrolment Id (28 digit) (if eligible for Aadhaar Residential/Office Phone Number with STD code / Mobile No. 1 75752https://www.incometaxindia.gov.in/Forms/Income-Tax Rules/2019pdfFalsepdfFormIncome-tax RulesITR-32019{9cb610e6-fe06-4f0f-a1f8-6be8abb7512c}5821d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Depreciation9022566/13/2014 5:43:51 PM(1) In respect of depreciation of buildings, machinery, plant or furniture owned by the the amount of the allowance for depreciation for the following previous year and deemed https://www.incometaxindia.gov.in/Acts/Income-tax Act, 1961/1991htmlFalsehtmActIncome-tax Act, 196132CHAPTER IVCOMPUTATION OF TOTAL INCOME1991{13896cd1-2b32-4ec2-8593-d8603ef8120d}125711d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in