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<h1>Tax Authorities Clarify Depreciation Rates: 30% for Complete Aircraft, 40% for Aero-Engines under Income Tax Act, 1961.</h1> A clarification by the tax authorities addresses the applicable depreciation rates for aeroplanes under the Income Tax Act, 1961. The document distinguishes between complete aircraft and specific components like aero-engines and aerial photographic apparatus. It specifies a 30% depreciation rate for complete aircraft and a 40% rate for aero-engines. No separate rates exist for other aeroplane parts; thus, they fall under general machinery and plant depreciation rules. These instructions are to be communicated to relevant tax officers for consistent application.