Depreciation rates under income tax rules set for buildings, machinery, vehicles, ships and intangible business rights. Prescribes the rates of depreciation admissible under the Income-tax Rules, 1962 for blocks of assets, effective from assessment year 2006-07 onwards. The ... Summary
Depreciation rates under income tax rules set for buildings, machinery, vehicles, ships and intangible business rights.
Prescribes the rates of depreciation admissible under the Income-tax Rules, 1962 for blocks of assets, effective from assessment year 2006-07 onwards. The table classifies tangible assets into buildings, furniture and fittings, machinery and plant, and ships, and intangible assets such as know-how, patents, copyrights, trademarks, licences, franchises and similar business or commercial rights. Different percentages of written down value apply to specified categories of assets, including residential and non-residential buildings, temporary erections, motor cars, public transport and commercial vehicles, pollution-control and energy-saving equipment, medical equipment, computers, textile machinery, renewable energy devices, books, vessels and ships.
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