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Depreciation

Depreciation rates14460 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.7/2/2022 6:28:39 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 44626https://www.incometaxindia.gov.in/Charts Tables/Forms/AllItems.aspxhtmlFalsehtmCharts & Tables26b89a4f-398f-430e-bccf-2f9843f0620c40a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
Depreciation2506657/1/2022 7:16:57 PM32 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 896https://www.incometaxindia.gov.in/Rules/Income-Tax RuleshtmlFalsehtmRuleIncome-tax Rulesf5d01c93-5528-4be1-b341-5dc3e9647425971a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in5
Depreciation on plant and machinery837494/15/2019 11:37:03 AMDepreciation at full rate, Depreciation at half rate Additional Depreciation at 5161https://www.incometaxindia.gov.in/Pages/toolshtmlFalseaspx5d5a1cf6-fa5e-49b7-aa9b-bf6d76dfeca1726a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
Ascertainment of depreciation4467317/1/2022 5:03:09 PM4) 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 https://www.incometaxindia.gov.in/Acts/Companies Act, 1956htmlFalsehtmActCompanies Act, 1956350VIMANAGEMENT AND ADMINISTRATION13896cd1-2b32-4ec2-8593-d8603ef8120d38871a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
Manner of computing disputed tax in cases where loss or unabsorbed depreciation is reduced2511777/1/2022 7:14:02 PMyear, in respect of which unabsorbed depreciation has been reduced, shall not be increased by the amount of reduction in unabsorbed depreciation 9https://www.incometaxindia.gov.in/Rules/Direct Tax Vivad se Vishwas Rules, 2020htmlFalsehtmRuleDirect Tax Vivad se Vishwas Rules, 2020f5d01c93-5528-4be1-b341-5dc3e96474252179a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in9
Depreciation5823777/2/2022 1:28:20 AM(1) For the purposes of computing depreciation under clause (iv) of section 115VL, the depreciation for the first previous year of the (a )  the book written down value of 1https://www.incometaxindia.gov.in/Acts/Income-tax Act, 1961/2006htmlFalsehtmActIncome-tax Act, 1961115VKChapter XIIGSPECIAL PROVISIONS RELATING TO INCOME OF SHIPPING COMPANIES200613896cd1-2b32-4ec2-8593-d8603ef8120d23679a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
RATES OF DEPRECIATION4478127/1/2022 5:08:35 PMNature of assets   Single Shift Double Shift Triple Shift WDV SLM WDV SLM WDV SLM (c) PURELY TEMPORARY ERECTIONS such as wooden structures   100% 100 689https://www.incometaxindia.gov.in/Acts/Companies Act, 1956htmlFalsehtmActCompanies Act, 1956SCH XIVSCHEDULESSCHEDULES13896cd1-2b32-4ec2-8593-d8603ef8120d45819a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
Depreciation5874257/2/2022 3:59:55 AM(1) 66[In respect of depreciation of (i) buildings67, machinery67, plant or furniture that the aggregate deduction, in respect of depreciation of buildings, machinery, plant or 72https://www.incometaxindia.gov.in/Acts/Income-tax Act, 1961/2014htmlFalsehtmActIncome-tax Act, 196132CHAPTER IVComputation of total income201413896cd1-2b32-4ec2-8593-d8603ef8120d50514a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
Depreciation5894607/2/2022 4:07:42 AM(i)  buildings, machinery, plant or furniture, being tangible assets that the aggregate deduction, in respect of depreciation of buildings, machinery, plant or 293https://www.incometaxindia.gov.in/Acts/Income-tax Act, 1961/2015htmlFalsehtmActIncome-tax Act, 196132CHAPTER IVComputation of total income201513896cd1-2b32-4ec2-8593-d8603ef8120d55003a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in
Depreciation6131657/1/2022 7:20:46 PM(1) In respect of depreciation of buildings, machinery, plant or furniture owned by the to the building then, in respect of depreciation of such structure or work, the following 4https://www.incometaxindia.gov.in/Acts/Income-tax Act, 1961/1971htmlFalsehtmActIncome-tax Act, 196132IVCOMPUTATION OF TOTAL INCOME197113896cd1-2b32-4ec2-8593-d8603ef8120d37782a70a4758-4931-403d-8a28-e1255b78386dhttps://www.incometaxindia.gov.in