Depreciation under Income Tax Act, 1961 & Depreciation under Companies Act, 2013 TAXCONCEPT

Depreciation under Income Tax Act, 1961 & Depreciation under Companies Act, 2013 Rates of depreciation (for income-tax)

AS APPLICABLE FROM THE ASSESSMENT YEAR 2003-04 ONWARDS

Block of assets Depreciation allowance as percentage of written down value

	*AYs 2003-04* *to 2005-*	*AY 2006-07* *to AY*	*AY 2018-* 19 *onwards*
	06	*2017-18*
1	2	3	4
*PART A*
TANGIBLE ASSETS
I. BUILDING [See Notes 1 to 4 below the Table]
(1) Buildings which are used mainly for residential purposes except hotels and boarding houses	5	5	5
(2) Buildings other than those used mainly for residential purposes and not covered by sub-items (1) above and (3) below	10	10	10
(3) Buildings acquired on or after the 1st day of September, 2002 for installing machinery and plant forming part of water supply project or water treatment system and which is put to use for the purpose of business of providing infra- structure facilities under clause (i) of sub-section (4) of section 80-IA	100	100	40
(4) Purely temporary erections such as wooden structures	100	100	40
II. FURNITURE AND FITTINGS
*Furniture and ﬁttings including electrical ﬁttings [See* Note 5 below the Table]**	15	10	10
III. MACHINERY AND PLANT
(1) Machinery and plant other than those covered by sub- items (2), (3) and (8) below : [See Note 5A below the Table]	25	15	15
(2) (i) Motor cars, other than those used in a business of running them on hire, acquired or put to use on or after the 1st day of April, 1990 except those covered under entry (ii);	20	15	15