Depreciation rates under income tax law cover buildings, plant, machinery, intangible rights, and specified asset classes. Depreciation rates are prescribed for tangible and intangible assets under the income-tax depreciation schedule, with separate rates for buildings, furniture and fittings, machinery and plant, ships, and specified categories such as computers, renewable energy devices, pollution-control equipment, and medical equipment. The schedule also provides rates for intangible assets including know-how, patents, copyrights, trademarks, licences, franchises, and similar business rights, while the notes explain key expressions such as buildings, electrical fittings, commercial vehicles, computer software, and speed boats.
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Provisions expressly mentioned in the judgment/order text.
Depreciation rates under income tax law cover buildings, plant, machinery, intangible rights, and specified asset classes.
Depreciation rates are prescribed for tangible and intangible assets under the income-tax depreciation schedule, with separate rates for buildings, furniture and fittings, machinery and plant, ships, and specified categories such as computers, renewable energy devices, pollution-control equipment, and medical equipment. The schedule also provides rates for intangible assets including know-how, patents, copyrights, trademarks, licences, franchises, and similar business rights, while the notes explain key expressions such as buildings, electrical fittings, commercial vehicles, computer software, and speed boats.
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