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USEFUL LIVES TO COMPUTE DEPRECIATION

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 675541https://www.incometaxindia.gov.in/Charts Tables/Forms/AllItems.aspxhtmlFalsehtmCharts & Tables{26b89a4f-398f-430e-bccf-2f9843f0620c}401d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
USEFUL LIVES TO COMPUTE DEPRECIATION912676/28/2018 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 2948https://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
Tax Charts & Tables363612/7/2020 10:47:03 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 570658https://www.incometaxindia.gov.in/Pages/Forms/AllItems.aspxhtmlFalseaspx{5d5a1cf6-fa5e-49b7-aa9b-bf6d76dfeca1}4351d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Tax rates​10233 In this part you can gain knowledge about the normal tax rates applicable to different taxpayer. ​5/4/2020 12:00:58 PM[As amended by Finance Act, 2020] TAX RATES In this part you can gain knowledge about the normal tax rates applicable to different taxpayers For special tax rates applicable to 185046https://www.incometaxindia.gov.in/Tutorials/Forms/AllItems.aspxpdfFalsepdfTutorial{903058ee-bf1e-4514-bbd4-e628472da78b}1011d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Deductions allowable to tax payer4265 ​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.10/23/2020 12:47:43 PMof 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 259164https://www.incometaxindia.gov.in/Charts Tables/Forms/AllItems.aspxhtmlFalsehtmCharts & Tables{26b89a4f-398f-430e-bccf-2f9843f0620c}331d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Depreciation on other assets93841/25/2018 1:00:06 PMDEPRECIATION ON PLANT AND MACHINIERY DEPRECIATION ON OTHER ASSETS Depreciation allowed as per Income-tax Act, 1961 Written down 36044https://www.incometaxindia.gov.in/Pages/toolshtmlFalseaspx{5d5a1cf6-fa5e-49b7-aa9b-bf6d76dfeca1}7251d5e35f4-95b1-4705-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 14253https://www.incometaxindia.gov.in/Rules/Income-Tax RuleshtmlFalsehtmRuleIncome-tax Rules{f5d01c93-5528-4be1-b341-5dc3e9647425}9711d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in5
Depreciation3662248/27/2014 2:50:38 PM692https://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
Investment Property123356/25/2018 11:39:44 AMIndian Accounting Standard (Ind AS) 40 (This Indian Accounting Standard includes paragraphs set in bold type and plain type, which have equal authority https://www.incometaxindia.gov.in/Rules/Companies (Accounting Standards) Rules, 2006/2009htmlFalsehtmRuleCompanies (Accounting Standards) Rules, 2006{f5d01c93-5528-4be1-b341-5dc3e9647425}3781d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.inIND AS 40
Depreciation36487310/30/2020 2:26:24 PM(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 3https://www.incometaxindia.gov.in/Acts/Income-tax Act, 1961/2016htmlFalsehtmActIncome-tax Act, 196132CHAPTER IVComputation of total income2016{13896cd1-2b32-4ec2-8593-d8603ef8120d}562711d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in