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of <h1>Updated Depreciation Rates for Tangible and Intangible Assets Under Income Tax Rules, 1962; Includes Special Provisions</h1> The depreciation rates for various asset categories under the Income Tax Rules, 1962, effective from the assessment year 2006-07. Tangible assets such as buildings, furniture, machinery, and vehicles have specified depreciation rates ranging from 5% to 45%, depending on their use and acquisition date. Intangible assets like patents and copyrights have a depreciation rate of 25%. Special provisions apply to assets like pollution control equipment, renewable energy devices, and life-saving medical equipment. Additional notes clarify terms and conditions related to specific asset categories and their depreciation applicability.
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