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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.4/18/2018 4:49:53 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 46906https://www.incometaxindia.gov.in/Charts Tables/Forms/AllItems.aspxhtmlFalsehtmCharts & Tables{26b89a4f-398f-430e-bccf-2f9843f0620c}401d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Depreciation75457911/15/2016 6:35:32 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 995https://www.incometaxindia.gov.in/Rules/Income-Tax RuleshtmlFalsehtmRuleIncome-tax Rules{f5d01c93-5528-4be1-b341-5dc3e9647425}9711d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in5
Depreciation on plant and machinery7556541/25/2018 12:59:19 PMDepreciation at full rate, Depreciation at half rate Additional Depreciation at 3122https://www.incometaxindia.gov.in/Pages/toolshtmlFalseaspx{5d5a1cf6-fa5e-49b7-aa9b-bf6d76dfeca1}7261d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Set off and carry forward of losses under the Income-tax Law679305In this part you can gain knowledge about various provisions relating to set off and carry forward of losses under the Income-tax Law.​7/26/2017 3:31:53 PM[As amended by Finance Act, 2017] SET OFF AND CARRY FORWARD OF LOSS UNDER THE INCOME-TAX ACT in case of unabsorbed depreciation (provisions relating to unabsorbed depreciation are 19907https://www.incometaxindia.gov.in/Tutorials/Forms/AllItems.aspxpdfFalsepdfTutorial{903058ee-bf1e-4514-bbd4-e628472da78b}1031d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Memorandum8434867/17/2014 5:39:47 AMClause 115 of the Bill seeks to amend section 2 of the Contingency Fund of India Act, 1950 so as to raise the corpus of the Contingency Fund of India from fifty crores of 13https://www.incometaxindia.gov.in/Budgets and Bills/2005htmlFalsehtmBudgetFINANCE BILL2005{cc9cf5ca-a3ec-47f9-b55f-ca7b4cfdd77f}2891d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Circular No. 3/20178320961/27/2017 10:50:09 AMDated, the 20 th of January, 2017 EXPLANATORY NOTES TO THE PROVISIONS OF THE FINANCE ACT, 2016 Extending the benefit of initial additional depreciation under section 2632https://www.incometaxindia.gov.in/Communications/CircularpdfFalsepdfCircular2017-01-19T21:30:00.0000000Z2017Circular No. 3/2017{8f5119bc-7835-4673-bf0f-3474ae9bd9c6}117281d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Circular No. 2, dated 9-2-20018311777/16/2014 9:31:58 PMby the assessee and no claim for depreciation has been made in the return, the ITO should estimate the income without allowing depreciation allowance It was not open to the 82https://www.incometaxindia.gov.in/Communications/CircularhtmlFalsehtmCircular2001-02-08T18:30:00.0000000Z20012{8f5119bc-7835-4673-bf0f-3474ae9bd9c6}3761d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Circular No. 109, dated 20-03-19738314927/16/2014 9:32:07 PMNORMAL DEPRECIATION UP TO 1969-70 - Non-seasonal factory was entitled to no depreciation unless it worked for more than 30 3https://www.incometaxindia.gov.in/Communications/CircularhtmlFalsehtmCircular1973-03-19T18:30:00.0000000Z1973109{8f5119bc-7835-4673-bf0f-3474ae9bd9c6}3811d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
Income on estimated basis under sec. 44AD (Theory)679353In this part you can gain knowledge about the provisions of the presumptive taxation scheme of section 44AD. ​9/8/2014 7:50:54 PMAdvance Learning on Section 44AD (Theory To give relief to small assessees, the Income-tax any deduction under sections 30 to 38 (including depreciation or unabsorbed depreciation 11567https://www.incometaxindia.gov.in/Tutorials/Forms/AllItems.aspxpdfFalsepdfTutorial{903058ee-bf1e-4514-bbd4-e628472da78b}641d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in
For individuals and HUFs having income from a proprietary business or profession) (Please see rule 12 of the Income-tax Rules, 19628830803/31/2017 11:43:46 AMDate of Birth/Formation (DD/MM/YYYY Aadhaar Number (12 digit)/ Aadhaar Enrolment Id (28 digit) (if eligible for Aadhaar Sex (in case of individual) (Tick Depreciation 13555https://www.incometaxindia.gov.in/Forms/Income-Tax Rules/2017pdfFalsepdfFormIncome-tax RulesITR-32017{9cb610e6-fe06-4f0f-a1f8-6be8abb7512c}5331d5e35f4-95b1-4705-ad33-f92c024fd01chttps://www.incometaxindia.gov.in