Depreciation rates as per the Income Tax Act (For F.Y 2019-20 & AY 2020-21). Depreciation Rate Chart As Per Income Tax Act. Download Depreciation Rate Chart as per Income Tax Act. depreciation rate chart as per income tax form 2018-19. Latest New Depreciation Rates issued by Income Tax Department. There are many queries regarding the Depreciation rate chart like – depreciation rate in income tax, depreciation under income tax act etc. Now You can Scroll Down Below and check complete details regarding Latest Depreciation Rate As Per Income Tax Act. Recently we are Providing Depreciation Rate Chart As Per Companies Act 2013, Procedure for Online E- Registration of Service Tax, Income Tax Due Dates You can also Find these Best Articles in Our Website. Now You can Scroll Down Blow and Download Depreciation Rate Chart As Per Income Tax Act.
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What Is Depreciation
While computing profits and gains from business or profession, a taxpayer can claim depreciation on all those assets which he has acquired and used for the purpose of his business or profession. Different depreciation rates are prescribed for different nature of assets. This write up lists down all such depreciation rates.
Calculation of Depreciation
Depreciation is Calculated as per the provisions of income tax act for income tax return and companies are calculated as per companies act. So Depreciation is calculated by two method one is as per companies act or one is as per income tax act. Today we provide depreciation chart as per income tax act for easily calculate depreciation.
Depreciation Rate Chart As Per Income Tax
As per Income Tax Act 1962 Depreciation calculation is mandatory. So All firms who furnish return to income tax return calculate depreciation as per income tax act
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Depreciation rates as per I.T Act for most commonly used assets
6. Depreciation Rates as per the Income Tax Act
Part A Tangible Assets:
Class
Part B Intangible Assets: Patents, know-how, trademarks,franchises,copyrights, licenses or any other commercial or business right of similar nature – 25% is the Depreciation Rate.
Felt
filter system
Electrostatic precipitation systems
Scrubber
Counter current / packed bed / venture / cyclonic scrubbers
Dust collector systems
Evacuation system and ash handling system
Aerated detritus chambers (including air compressor)
Mechanical screen systems
Mechanically skimmed grease and oil removal systems
Flash mixing equipment and chemical feed systems
Mechanical reactors and mechanical flocculators
Mechanically aerated activated sludge / diffused air systems
Biofilters
Aerated lagoon systems
Air floatation systems
Methane
recovery anaerobic digester systems
Steam/air stripping systems
Marine outfall systems
Urea Hydrolysis systems
Activated carbon column
Bio
Disc or rotating biological contractor
Marine outfall systems
Ion exchange resin column
Centrifuge for dewatering sludge
D.C Defibrillators for pacemakers and internal use
Colour Doppler
Haemodialysis
Cobalt therapy unit
Vascular Angiography System including Digital subtraction Angiography
Heart lung machine
Spect Gamma Camera
Magnetic Resonance Imaging System
Ventilator used with anaesthesia apparatus
Ventilator except those used with anaesthesia
Surgical laser
Gamma knife
Fibreoptic endoscopes including audit resectoscope/paediatric resectoscope, arthoscope, peritoneoscopes, fibreoptic flexible nasal pharyngo, microaryngoscope, video laryngo, fiberoptic flexible laryngo bronchoscope.
Bronchoscope, video oescophago gastroscope, video oescopghago bronchoscope, fibreoptic flexible oesophago gastroscope
7. Example for Depreciation calculation
In 2017-18 Company purchased the following assets –
Depreciation will be computed as follows:
Download Depreciation Rates as per Income Tax Act
Purchases (>or = 180 days)
Purchase (<180 days)
500000
40000
20000
300000
Sold during the year
0
