Depreciation Rate Chart on Fixed Assets of Income Tax Act

Dear Friends, today we have to discuss about the depreciation rate chart which is calculated on the fixed assets as per the income tax act. You know very well about the “Depreciation”. Depreciation is the amount which is deducted from the fixed assets annual on a specified percentage. So, today we talk about what is the percentage is used on different fixed assets as per the given Depreciation chart as per Income Tax Act for FY 2012-13.

Depreciation chart as per Income Tax Act for FY 2012-13 and AY 2013-14. Assets are bifurcated in five classes as under for the purpose of Depreciation as per Income Act .

1. Building
2. Furniture
3. Plant and Machinery (P&M)
4. Ships
5. Intangible assets

There is a concept of block of assets. Blocks of assets are defined based on rates of depreciation of respective block. There are total 13 different rates of depreciation hence there are total 13 Blocks of assets.

Must Read: Meaning of Tax and Types of Tax in India

Depreciation chart as per Income Tax Act for FY 2012-13 and AY 2013-14 is as under:

How to use depreciation rate chart:

Above table is very user-friendly and provide better navigation. You can search assets in search box e.g. “furniture”, you will get depreciation rate of furniture. You can decide to show 10, 25,50 or 100 rows at a time. You can take print out or take PDF version by selecting 100 rows (for all entries) and clicking on respective option which is available at the end of post. You can sort table.

ASSET CLASSBLOCK NUMBERSUB ITEM NUMBERASSET TYPERATE OF DEPRECIATION
BuildingBlock-01i.Residential buildings except hotels and boarding houses5%
BuildingBlock-02ii.Other than Residential buildings (not covered in Block No.1 and3)10%
BuildingBlock-03i.Buiding acquired on or after 01st Sep,2002 for installing PandM forming part of water supply project or water treatment systmen and which is put to use for the prupose of business of providing infrasturcture facilities u/s 80-IA(4)(i)100%
BuildingBlock-03ii.Purely temporary erections such as wooden structures100%
FurnitureBlock-04i.Furniture – Any furniture / fittings including electricals fittings10%
Plant and MachineryBlock-05i.Motor cars other than thouse used in a business of running them on hire15%
Plant and MachineryBlock-05ii.PandM other those  covered in block no. 6 to 11 below.15%
Plant and MachineryBlock-06i.Motor buses/taxies/lorries used in a business of running them on hire30%
Plant and MachineryBlock-06ii.Moulds used in plastic and rubber factories30%
Plant and MachineryBlock-06iii.PandM used in semi conductor industry other than those covered in Block no. 11 below30%

Must Read: Service Tax in Tally

I hope you like this depreciation rate chart post. Give your important suggestions in comment box regarding this post and share your knowledge with your friends, colleague, family members and others. Thanks.

7 response on “Depreciation Rate Chart on Fixed Assets of Income Tax Act

  1. siva sankari.a

    my name is siva sankar, i’m completed m.com in meenachi college.above mentioned the matter of Rate of Depreciation in above the Percentage of Fixed Assets plz send it overall

    Thanking you sir
    siva sankari .A

    Reply
  2. PRAVIN NAGNATH ITKAL

    i am pravin nagnath itkal i was complited B.com degree in commerce plz send me details for fixed assets on depreciation it’s necessary are

    Reply
  3. Wrushabh

    Rate of depreciatrion in above the percentage of fixed assets and current assets plz send list overall

    Reply
  4. bharti

    please let me know depreciation rates for fixed assets of government departments from year 1997-98 to 2015-16

    Reply
  5. swadesh

    hi sir

    My name is swadesh.iam complted M.com in bellary in veershiva college.
    above mentioned the matter of Rate of Depreciatrion in above the percenatge of Fixed Asstes and Current Assets being the like with out interest

    thanking you sir
    swadesh p
    aazad nagar
    hospet
    mobile 7795328984

    Reply

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