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Depreciation Rates as per Income Tax Act

  Depreciation Rates as per Income Tax Act for Most Commonly Used Assets Sl.No Asset Class Asset Type Rate of Depreciation 1 Bui...

 

Depreciation Rates as per Income Tax Act for Most Commonly Used Assets

Sl.No Asset Class Asset Type Rate of Depreciation
1 Building Residential buildings not including boarding houses and hotels 5%
2 Building Boarding houses and hotels 10%
3 Building Purely temporary constructions like wooden structures 40%
4 Furniture Any fittings / furniture including electrical fittings 10%
5 Plant and machinery Motor cars excluding those used in a business of running them on hire 15%
6 Plant and machinery Motor cars excluding those used in a business of running them on hire purchased on or after 23 August 2019 but before the 1 April 2020 and is put to use before 1 April 2020 30%
7 Plant and machinery Lorries/taxis/motor buses used in a business of running them on hire 30%
8 Plant and machinery Lorries/taxis/motor buses used in a business of running them on hire purchased on or after 23 August 2019 but before the 1 April 2020 and is put to use before 1 April 2020 45%
9 Plant and machinery Computers and computer software 40%
10 Plant and machinery Books owned by assessee carrying on a profession being annual publications 100%
11 Plant and machinery Books owned by assessee carrying on profession not being annual publications 60%
12 Plant and machinery Books owned by assessee carrying on business in running lending libraries 100%
13 Intangible assets Franchise, trademark, patents, license, copyright, know-how or other commercial or business rights of similar nature

25%

Depreciation Rates as per the Income Tax Act (Comprehensive Chart)

The below depreciation rate chart is divided into two parts

  • Part A Tangible Assets
  • Part B Intangible Assets
Asset Class Sr. No. Asset Type Rate of Depreciation
Part A Tangible Assets
Building 1 Buildings used primarily for residential reasons (excluding boarding houses and hotels) 5%
  2 Buildings apart from those used primarily for residential reasons and not covered by subitems 1 (above) and 3 (below) 10%
  3 Buildings procured on or after September 1, 2002, for installing plant and machinery forming part of water treatment system or water supply project and which is used for the purpose of business of providing infrastructure facilities under clause (i) of subsection (4) of section 80-IA 40%
  4 Purely temporary erections like wooden structures 40%
Furniture and fittings   Furniture and fittings including electrical fittings 10%
Plant and machinery 1 Plant and machinery excluding those covered by sub-items (2), (3) and (8) below 15%
  2 Motor cars, excluding those used in a business of running them on hire, procured or put to use on or after April 1, 1990 15%
  3 Motor cars, other than those used in a business of running them on hire, acquired on or after the 23rd day of August, 2019 but before the 1st day of April, 2020 and is put to use before the 1st day of April, 2020. 30%
  3(i) Aeroplanes, Aero Engines 40%
  3(ii) (a) Motor taxis, motor buses and motor lorries used in a business of running them on hire 30%
    (b) Motor buses, motor lorries and motor taxis used in a business of running them on hire, acquired on or after the 23rd day of August, 2019 but before the 1st day of April, 2020 and is put to use before the 1st day of April, 2020. 45%
  3(iii) Commercial vehicle which is procured by the assessee on or after October 1, 1998, but before April 1, 1999, and is used for any period of time prior to April 1, 1999, for the purpose of profession or business in agreement with the third proviso to clause (ii) of sub-section (1) of section 32 40%
  3(iv) New commercial vehicle procured on or after October 1, 1998, but prior to April 1, 1999, in replacement of condemned vehicle of more than 15 years of age and is used for any period of time prior to April 1, 1999, for the purpose of business or profession in agreement with the third proviso to clause (ii) of sub-section (1) of section 32 40%
  3(v) New commercial vehicle procured on or after April 1, 1999, but before April 1, 2000, in replacement of condemned vehicle of more than 15 years of age and is put to use prior to April 1, 2000, for the purposes of profession or business in agreement with the second proviso to clause (ii) of sub-section (1) of section 32 40%
  3(vi) New commercial vehicle procured on or after April 1, 2001, but before April 1, 2002, and is put to use before April 1, 2002, for the purpose of profession or business 40%
    New commercial vehicle which is acquired on or after the 1st day of January, 2009 but before the 1st day of October, 2009 and is put to use before the 1st day of October, 2009 for the purposes of business or profession [See paragraph 6 of the Notes below this Table] 40%
  3(vii) Moulds used in plastic and rubber goods factories 30%
  3(viii) Air pollution control equipment 40%
    Felt-filer system  
    Electrostatic precipitation systems  
    Scrubber  
    Counter current / packed bed / venture / cyclonic scrubbers  
    Dust collector systems  
    Evacuation system and ash handling system  
  3(ix) Water pollution control equipment 40%
    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  
  3(x) (a) Solid waste, control equipment Cryolite / mineral / lime / caustic / chrome recovery system (b) Resource recovery and solid waste recycling systems 40%
  3(xi) Plant and machinery used in semiconductor industry covering all integrated circuits (ICs) (not including hybrid integrated circuits) ranging from small scale integration (SSI) to large scale integration / very large scale integration (LSI/VLSI) as also discrete semiconductor devices like diodes, triacs, thyristors, transistors, etc., except those covered by entries (viii), (ix), (x) of this sub-item and sub-item (8) below 30%
  3(xi)a Life Saving medical equipment 40%
    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  
  4 Containers made of plastic or glass used as refills 40%
  5 Computers including computer software 40%
  6 Plant and machinery, used in processing, weaving and garment sector of textile industry, which is bought under TUFS on or after April 1, 2001, but prior to April 1, 2004, and is put to use prior to April 1, 2004 40%
  7 Plant and machinery procured and installed on or after September 1, 2002, in a water treatment system or a water supply project and put to use for the purpose of business of providing infrastructure facility under clause (i) of sub-section (4) of section 80-IA 40%
  8 1. Wooden parts used in artificial silk manufacturing machinery 40%
    2. Match factories, wooden match frames 40%
    3. Cinematograph films, bulbs of studio lights 40%
    4. Salt works, condensers, reservoirs, salt pans, etc., made of clayey, sandy or earthy material or any other similar material 40%
    5. Quarries and mines  
    Sand stowing pipes, winding ropes, tubs and haulage ropes 40%
    Safety lamps 40%
    6. Flour mills, rollers 40%
    7. Sugar works, rollers 40%
    8. Steel and iron industry, rolling mill rolls 40%
    9. Energy saving devices  
    (A) Furnaces and specialised boilers  
    (i) Fluidized bed boilers / ignifluid  
    (ii) Continuous pusher type furnaces and flameless furnaces  
    (iii) High efficiency boilers  
    (iv) Fluidized bed type heat treatment 40%
    (B) Instrumentation and monitoring system for monitoring energy flows  
    (i) Digital heat loss meters  
    (ii) Automatic electrical load monitoring systems  
    (iii) Infrared thermography 40%
    (iv) Microprocessor based control systems  
    (v) Meters for measuring heat losses, steam flow, furnace oil flow, power factor and electric energy meters  
    (vi) Exhaust gas analysers  
    (vii) Maximum demand indicator and clamp on power meters  
    (viii) Fuel oil pump test bench  
    (C) Waste heat recovery equipment  
    (i) Air pre-heaters and recuperators 40%
    (ii) Feed water heaters and economisers  
    (iii) Thermal energy wheel for low and high temperature heat recovery  
    (iv) Heat pumps  
    (D) Co-generation systems  
    (i) Controlled extraction, back pressure pass out, extraction cum condensing turbines for cogeneration along with pressure boilers 40%
    (ii) Organic rankine cycle power systems  
    (iii) Vapour absorption refrigeration systems  
    (iv) Low inlet pressure small steam turbines  
    (E) Electrical equipment  
    (i) Synchronous condenser systems and shunt capacitors  
    (ii) Relays (automatic power cut off devices)  
    (iii) Power factor controller for AC motors  
    (iv) Automatic voltage controller  
    (v) Solid state devices for controlling motor speeds  
    (vi) FACT (Flexible AC Transmission) devices, Thyristor controlled series compensation equipment 40%
    (vii) Thermally energy-efficient stenters  
    (viii) Series compensation equipment  
    (ix) TOD (Time of Day) energy meters  
    (x) Intelligent electronic devices/remote terminal units, computer software/hardware, bridges/router, other required equipment and associated communication systems for data acquisition systems and supervisory control, distribution management systems and energy management systems for power transmission systems  
    (xi) Special energy meters for ABT (Availability Based Tariff)  
    (F) Burners  
    (i) Zero to ten per cent excess air burners  
    (ii) Burners using air with high preheat temperature (above 300 degrees Celsius)  
    (iii) Emulsion burners 40%
    (G) Other equipment  
    (i) Mechanical vapour recompressors  
    (ii) Wet air oxidation equipment for recovery of heat and chemicals  
    (iii) Automatic microprocessor based load demand controllers 40%
    (iv) Thin film evaporators  
    (v) Fluid couplings and fluid drives  
    (vi) Coal based producer gas plants  
    (vii) Super-charges/turbo charges  
    (viii) Sealed radiation sources for radiation processing plants  
    10. Gas cylinders including regulators and valves 40%
    11. Glass manufacturing concerns, Direct fire glass melting furnaces 40%
    12. Mineral oil concerns 40%
    (i) Plant used in field operations (above ground) distribution, returnable packages  
    (ii) Plant used in field operations (below ground), but not including kerbside pumps including fittings and tanks used in field operations (distribution) by mineral oil concerns  
    (iii) Oil wells not covered in (i) and (ii) above 15%
    13. Renewable energy devices  
    (i) Pipe type and concentrating solar collectors  
    (ii) Flat plate solar collectors  
    (iii) Solar cookers  
    (iv) Air/fluid/gas heating systems  
    (v) Solar water heaters and systems  
    (vi) Solar crop drivers and systems  
    (vii) Solar steels and desalination systems  
    (viii) Solar refrigeration, air conditioning systems and cold storages  
    (ix) Solar pumps based on solar-photovoltaic and solar-thermal conversion 40%
    (x) Solar power generating systems  
    (xi) Solar-photovoltaic panels and modules for water pumping and other applications  
    14. Wind mills and any other specially designed devices that operate on wind mills (installed on or after April 1, 2014)  
    15. Any special devices including electric pumps and generators operating on wind energy (installed on or after April 1, 2014)  
    16. Books owned by assessees carrying on a profession  
    (i) Books, being annual publications 40%
    (ii) Books, excluding those covered by entry (i) above 40%
    (iii) Books owned by assessees carrying on business in running lending libraries 40%
Ships 4(i) Ocean-going ships including tugs, survey launches, dredgers, barges and other similar ships used primarily for dredging purposes and sighing vessels with wooden hull 20%
  4(ii) Vessels ordinarily operating on inland waters, not covered by sub-item (iii) below 20%
  4 (iii) Vessels ordinarily operating on inland waters being speed boats 20%
Part B Intangible Assets
    Franchise, trademark, patents, license, copyright, know-how or other commercial or business rights of similar nature 25%

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Indian Tax System (Maithili) भारतक कर व्यवस्था (मैथिली): Depreciation Rates as per Income Tax Act
Depreciation Rates as per Income Tax Act
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Indian Tax System (Maithili) भारतक कर व्यवस्था (मैथिली)
https://tax.maithili.org.in/2022/06/depreciation-rates-as-per-income-tax-act.html
https://tax.maithili.org.in/
https://tax.maithili.org.in/
https://tax.maithili.org.in/2022/06/depreciation-rates-as-per-income-tax-act.html
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