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Depreciation rates36092 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.7/12/2021 6:00:07 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 27103https://incometaxindia.gov.in/Charts Tables/Forms/AllItems.aspxhtmlFalsehtmCharts & Tables{26b89a4f-398f-430e-bccf-2f9843f0620c}40e93ecc72-db73-4be0-b379-9d56639c4ed8https://incometaxindia.gov.in
Depreciation4860510/13/2020 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 477https://incometaxindia.gov.in/Rules/Income-Tax RuleshtmlFalsehtmRuleIncome-tax Rules{f5d01c93-5528-4be1-b341-5dc3e9647425}971e93ecc72-db73-4be0-b379-9d56639c4ed8https://incometaxindia.gov.in5
Depreciation on plant and machinery267584/15/2019 11:37:03 AMDepreciation at full rate, Depreciation at half rate Additional Depreciation at 4705https://incometaxindia.gov.in/Pages/toolshtmlFalseaspx{5d5a1cf6-fa5e-49b7-aa9b-bf6d76dfeca1}726e93ecc72-db73-4be0-b379-9d56639c4ed8https://incometaxindia.gov.in
RATES OF DEPRECIATION7886347/19/2021 12:02:30 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 664https://incometaxindia.gov.in/Acts/Companies Act, 1956htmlFalsehtmActCompanies Act, 1956SCH XIVSCHEDULESSCHEDULES{13896cd1-2b32-4ec2-8593-d8603ef8120d}45819e93ecc72-db73-4be0-b379-9d56639c4ed8https://incometaxindia.gov.in
Depreciation8301537/19/2021 6:35:12 PM3https://incometaxindia.gov.in/Acts/Income-tax Act, 1961/2006unknownFalsehtmActIncome-tax Act, 1961115VKChapter XIIGSPECIAL PROVISIONS RELATING TO INCOME OF SHIPPING COMPANIES2006{13896cd1-2b32-4ec2-8593-d8603ef8120d}23679e93ecc72-db73-4be0-b379-9d56639c4ed8https://incometaxindia.gov.in
Depreciation8377967/19/2021 8:35:57 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://incometaxindia.gov.in/Acts/Income-tax Act, 1961/2016htmlFalsehtmActIncome-tax Act, 196132CHAPTER IVComputation of total income2016{13896cd1-2b32-4ec2-8593-d8603ef8120d}56271e93ecc72-db73-4be0-b379-9d56639c4ed8https://incometaxindia.gov.in
Depreciation8367347/19/2021 9:18:52 PM(1) For the purposes of computing depreciation under clause (iv) of section 115VL, the depreciation for the first previous year of the https://incometaxindia.gov.in/Acts/Income-tax Act, 1961/2021htmlFalsehtmActIncome-tax Act, 1961115VKCHAPTER XIIGSpecial provisions relating to income of shipping companies2021{13896cd1-2b32-4ec2-8593-d8603ef8120d}70798e93ecc72-db73-4be0-b379-9d56639c4ed8https://incometaxindia.gov.in
USEFUL LIVES TO COMPUTE DEPRECIATION7854397/19/2021 12:06:05 PM1. 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 1177https://incometaxindia.gov.in/Acts/Companies Act, 2013htmlFalsehtmActCompanies Act, 2013Schedule IISCHEDULESSCHEDULES{13896cd1-2b32-4ec2-8593-d8603ef8120d}39098e93ecc72-db73-4be0-b379-9d56639c4ed8https://incometaxindia.gov.in
Depreciation8100707/19/2021 1:49:37 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 https://incometaxindia.gov.in/Acts/Income-tax Act, 1961/1971htmlFalsehtmActIncome-tax Act, 196132IVCOMPUTATION OF TOTAL INCOME1971{13896cd1-2b32-4ec2-8593-d8603ef8120d}37782e93ecc72-db73-4be0-b379-9d56639c4ed8https://incometaxindia.gov.in
Depreciation 8172597/19/2021 3:35:26 PMto the amount of the allowance for depreciation for the following previous year and deemed as a deduction (whether by way of depreciation or otherwise) in computing the income https://incometaxindia.gov.in/Acts/Income-tax Act, 1961/1989htmlFalsehtmActIncome-tax Act, 196132IVCOMPUTATION OF TOTAL INCOME1989{13896cd1-2b32-4ec2-8593-d8603ef8120d}39207e93ecc72-db73-4be0-b379-9d56639c4ed8https://incometaxindia.gov.in