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 .
3. Plant and Machinery (P&M)
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 CLASS||BLOCK NUMBER||SUB ITEM NUMBER||ASSET TYPE||RATE OF DEPRECIATION|
|Building||Block-01||i.||Residential buildings except hotels and boarding houses||5%|
|Building||Block-02||ii.||Other than Residential buildings (not covered in Block No.1 and3)||10%|
|Building||Block-03||i.||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%|
|Building||Block-03||ii.||Purely temporary erections such as wooden structures||100%|
|Furniture||Block-04||i.||Furniture – Any furniture / fittings including electricals fittings||10%|
|Plant and Machinery||Block-05||i.||Motor cars other than thouse used in a business of running them on hire||15%|
|Plant and Machinery||Block-05||ii.||PandM other those covered in block no. 6 to 11 below.||15%|
|Plant and Machinery||Block-06||i.||Motor buses/taxies/lorries used in a business of running them on hire||30%|
|Plant and Machinery||Block-06||ii.||Moulds used in plastic and rubber factories||30%|
|Plant and Machinery||Block-06||iii.||PandM used in semi conductor industry other than those covered in Block no. 11 below||30%|
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