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of <h1>CBDT Updates Depreciation Rates: 40% for Small New Buildings, 25% for Intangibles in Income-tax Ninth Amendment.</h1> The Central Board of Direct Taxes, under the Ministry of Finance, has issued the Income-tax (Ninth Amendment) Rules, 1999, effective from April 1, 2000. The amendment modifies the Income-tax Rules, 1962, specifically in Appendix I. It introduces changes to the classification and depreciation rates for assets. For tangible assets, new buildings with dwelling units having a plinth area not exceeding 80 square meters, acquired between April 1, 1999, and April 1, 2002, will have a depreciation rate of 40%. For intangible assets, including know-how, patents, and trademarks, a depreciation rate of 25% is established.
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